Irish Association of Corporate Treasurers - LIBOR transition - UK FCA statement on Benchmarks Regulation review - Tarek Tranberg Head of Public Affairs & Policy, EACT

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LIBOR transition - UK FCA statement on Benchmarks Regulation review - Tarek Tranberg Head of Public Affairs & Policy, EACT

LIBOR transition - UK FCA statement on Benchmarks Regulation review - Tarek Tranberg Head of Public Affairs & Policy, EACT

24 Jun 2020 2:35 PM | Michele Fogarty (Administrator)

The European Commission (EC) will later in July 2020 propose targeted amendments to the EU Benchmarks Regulation on critical benchmark transition (IBORs including LIBOR) as well as with regard to the ability of EU firms to use non-EU benchmarks.

Looking ahead to the end of the Brexit transition period on 31 December 2020 and in view of the fact that Libor is administered and supervised in the UK, the UK FCA has issued a statement today welcoming an announcement by the UK government that it intends to introduce legislative amendments that align with the changes the EU will take forward.

The UK government statement can be found here.

The FCA statement can be found here.