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LIBOR Transition: Important Recent Developments, Compliance Corner

May 2021

Partner Thomas D’Ambrosio authored a Compliance Corner article about the confirmation by United Kingdom’s Financial Conduct Authority (FCA) that all LIBOR settings will either cease to be provided by an administrator or no longer be  representative (i) immediately after December 31, 2021 in the case of all sterling, euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings, and (ii) immediately after June 30, 2023, in the case of the remaining US dollar settings.  That  confirmation by the FCA had the effect of crystalizing the relevant dates for the cessation of the applicable LIBORs and propelling the financial industry toward preparing for such events. 

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