Sector Regulation Sector Regulation

EU Libor users offered respite over contract renegotiation, but no wider benchmark reforms

By Jack Schickler
  • 24 Jul 2020 05:37
  • 24 Jul 2020 05:37
EU financial-market players that use the soon-to-be defunct London interbank offered rate have been offered respite from having to renegotiate individual contracts as the European Commission proposed today to replace references to the interest-rate benchmark automatically.

The EU executive wants extra legislative powers to protect financial stability ahead of a phaseout of Libor

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