LIBOR Transition

Regulators have made clear firms need to end their reliance on LIBOR by end-2021. LIBOR is a benchmark rate which underpins around $300 trillion of financial products for customers globally, including derivatives, bonds and loans. For some UK Finance members it could be a bigger challenge than Brexit.

We are committed to supporting members with this transition. We are leading the way on mortgages and commercial loans, and engaging with the wider industry on a range of products. We recognise that keeping our members informed on developments, challenges, and industry approaches will be critical in the transition process.