On 5 March 2021, the UK’s Financial Conduct Authority (FCA) announced that it would cease to administer or no longer represent all LIBOR parameters.
The Reserve Bank of India on Friday issued a notification to banks and other RBI-regulated entities to take steps to ensure full transition from London Interbank Offered Rate (LIBOR) from July 1, 2023.
On 5 March 2021, the UK’s Financial Conduct Authority (FCA) announced that it would cease to administer or no longer represent all LIBOR parameters.
Historically, LIBOR has been a globally accepted benchmark interest rate that reflects the cost of borrowing between banks.
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