The end of the LIBOR era in financial markets: What lies ahead?

Petr Polak

A chapter in CNB Global Economic Outlook - October 2021, 2021, pp 13-18 from Czech National Bank, Research and Statistics Department

Abstract: Interest rates in the unsecured interbank market, known as IBORs (interbank offered rates), have been in use for more than four decades. They are used in financial markets as reference rates for a wide range of financial instruments and related derivatives. However, cases of manipulation by some banks have greatly damaged their reputation. As a result, several reference rates have been reformed and plans have been introduced to wind down unreformed ones. As some important rates are set to end at the close of this year, this article summarises the current situation and the future of reference rates in financial markets.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:cnb:ocpubc:geo2021/10

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