Implications of LIBOR Phase-Out Still Unknown
Thursday, March 28, 2019
After the LIBOR (London InterBank Offered Rate) scandal broke in January 2017 related to rate fixing by currency brokers at the major international banks, the United Kingdom’s Financial Conduct Authority announced in July 2017 that after 2021 LIBOR will be phased out.
The implications of the phase-out are unknown at this time, but experts predict there will be far-reaching accounting and global financial market challenges.
Trusted Professional, March 22, 2019
Accounting Today, February 1, 2019
Concerns Related to the Impending Replacement of LIBOR, November 22, 2018
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Contact Maria Gambacorta for additional information.