Fellow members of the Bank of Korea staff, We must above all brace ourselves anew to carry out our duties, so that the Bank of Korea can develop further as a policy institution enjoying public confidence in the current situation where our economy is facing difficulties and policy conditions are shifting rapidly.
For the most widely used USD LIBOR tenors, Ice Benchmark Administration will continue publishing these rates until 30 June 2023, but not beyond that. This 18-month extension is being made to allow most legacy USD LIBOR contracts to mature before LIBOR ends. But it is critical to stress that this extension applies to legacy contracts only.