The European Commission, the European Central Bank (ECB), the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) encouraged market participants on Thursday 24 June to stop using the interbank rates known as LIBOR (London Interbank Offered Rate), which are due to disappear at the end of 2021.
New rules have recently been adopted to empower the Commission to designate a replacement index for benchmarks considered “critically important”, and other...