According to a recent The Financial Times article, “the BoE’s deputy governor for markets and banking, said in a speech on Wednesday that it was “last orders” for the interest rate and that banks must stop adding to their post-2021 LIBOR exposures.
By some measures, he added, the task is on a bigger scale than preparing for Brexit.” The issue being talked about? LIBOR! LIBOR, which stands for the London Interbank Offered Rate, is a benchmark interest rate, representing the amount that banks pay to borrow unsecured from each other. But LIBOR’s days are numbered. It is due to be phased out in two years
LATEST ARTICLES
