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The transition from LIBOR to SONIA is one of the most challenging regulatory reform initiatives faced by UK Finance members, and others, over the coming years.
The transition forms part of a global effort to replace all IBORs with alternative risk-fee rates (RFRs) in accordance with IOSCO and FSB endorsed standards, and will impact a wide variety of financial products, services, and stakeholders including financial and non-financial firms, corporates, SMEs, retail clients and consumers.
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