FCA confirms the end of 2020 to remain the target date for firms to abandon use of LIBOR

The FCA confirms that the central assumption that firms cannot rely on LIBOR being published after the end of 2021 has not changed and should remain the target date for all firms to meet.

However, it is likely to affect some of the interim milestones for the transition programmes of UK market segments that have made less progress in transition and are therefore still more reliant on LIBOR, such as the loan market.