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Clifford Chance

Briefings

Transitioning from LIBORs and IBORs - an international overview

17 October 2018

Before financial markets can be encouraged to move from using LIBOR (the London Interbank Offered Rate) or other interbank offered rates (IBORs) as reference rates in new financial contracts, there must be suitable alternatives in place. This briefing provides a snapshot of “risk-free reference rates” (RFRs) selected by different markets to replace LIBORs and IBORs for different currencies. It also highlights those RFRs for which “term” rates are being pursued and those for which Overnight Indexed Swaps (OIS) and futures have been developed.

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Transitioning from LIBORs and IBORs - an international overview

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