The scandal-ridden Libor benchmark will be phased out by the end of 2021, to be replaced with a more reliable system by banks, the Financial Conduct Authority (FCA) and other regulators.
Financial markets will not "complete the journey to transaction-based benchmarks if markets continue to rely on Libor in its current form," FCA chief executive Andrew Bailey said in a speech at Bloomberg's...
£92bn transferred since 2015
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Since first announcement