FCA mandates publication of synthetic dollar LIBOR rate.
TL;DR
The transition from LIBOR to SOFR is almost complete, with the final cessation of LIBOR expected at the end of this year. While the transition has caused some pain for market participants, particularly in the derivatives market, the end is in sight. SOFR-linked products are becoming more prevalent, and the market is adjusting to the new interest rate benchmark.
- The pain and SOFRing are almost over Financial Times
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- UK watchdog orders publication of 'synthetic' dollar Libor rate Financial Times
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