On the 27th February 2020, the UK FCA wrote to asset management firms to emphasise the need to prepare for LIBOR to likely become unusable after December 2021. This extended previous ‘Dear CEO’ letters from 2018 to major banks and insurers and was designed to ensure firms are well prepared for LIBOR cessation. As we […]

Today has been circled in the calendar for a while now. Monday 2nd March is intended to see a change in GBP swap markets. From now on, the market convention should be to trade SONIA swaps instead of LIBOR. We covered the original announcement in this blog. 19:24 London Final post for this live blog. […]