By way of comparison, we estimate that there are roughly $ trillion of financial securities referencing U.S. dollar LIBOR. To help provide some further transparency, I will show data that we have on the number of transactions involved.
These data are based on the information available to the Federal Reserve, which is fairly comprehensive but still may differ in some respects from that available to IBA, so I should caution that this is merely an informed estimate of the number of transactions underlying U.S. dollar LIBOR and may not be exact.