Clifford Chance

US Considerations for Transition Away from LIBOR

2 August 2017

Although a bedrock of the financial markets for over 30 years, LIBOR has been under pressure ever since the Wheatley Review, and a speech given by Andrew Bailey, Chief Executive of the UK's Financial Conduct Authority on July 27th heralds its potential demise. Market participants need to prepare for the possible transition away from LIBOR by the end of 2021. This briefing explains why and assesses the practical and documentary implications for the US market.

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