The deadline for LIBOR is fast approaching – what do you need to do To prepare for the end of LIBOR, financial market participants need to take 2 key steps. 1. Move to alternative robust reference rates The first step is for firms to move to robust reference rates for all new contracts.
Earlier this month, Ice Benchmark Administration (which administers and publishes LIBOR), confirmed that it will publish most LIBOR rates for the last time on 31 December 2021. [1] On 1 January 2022, these rates will not be published – they will not exist.