LIBOR resources

First published: Last updated: 04/12/2024 See all updates

Find all news, statements, speeches and publications on LIBOR.

FCA news and statements

TitleDate
The end of LIBOROctober 2024
Remaining synthetic US dollar LIBOR settings – less than 1 month to goSeptember 2024
Remaining synthetic US dollar LIBOR settings – 3 months to goJune 2024
3-month synthetic sterling LIBOR – 1 month to goFebruary 2024

The US dollar LIBOR panel has now ceased

July 2023
US dollar LIBOR panel – 1 month to goMay 2023
Joint statement with the Bank of England and industry working group on LIBOR transitionApril 2023
FCA announces decision on synthetic US dollar LIBOR April 2023
Further consultation and announcements on the wind-down of LIBORNovember 2022
FCA announces decision on cessation of 1- and 6-month synthetic sterling LIBOR at end-March 2023September 2022
FCA encourages market participants to continue transition of LIBOR-linked bondsAugust 2022
Finalising LIBOR transition – achievements in sterling markets and what remains to be doneFebruary 2022
Changes to LIBOR as of end-2021January 2022
FCA issues final messages on LIBOR before end-2021December 2021
FCA confirms rules for legacy use of synthetic LIBOR rates and no new use of US dollar LIBORNovember 2021
Further arrangements for the orderly wind-down of LIBOR at end-2021September 2021
FCA and the Bank of England encourage market participants in a switch to RFRs in the LIBOR cross-currency swaps market from 21 SeptemberAugust 2021
FCA and Bank of England encourage market participants in a switch to SOFR in US dollar interest rate swap marketsJune 2021
FCA consults on proposed decision to require synthetic LIBOR for 6 sterling and Japanese yen settingsJune 2021
FCA consults on use of new powers to support orderly wind down of critical benchmarksMay 2021
FCA and Bank of England encourage market participants in a switch to SONIA in the sterling exchange traded derivatives marketMay 2021
FCA and Bank of England encourage market participants in a switch to SONIA in the sterling non-linear derivatives marketMarch 2021
Announcements on the end of LIBORMarch 2021
FCA announcement on future cessation and loss of representativeness of the LIBOR benchmarksMarch 2021
The final countdown: Completing sterling LIBOR transition by end-2021January 2021
FCA response to IBA’s proposed consultation on intention to cease US$ LIBORNovember 2020
FCA consults on new benchmarks powersNovember 2020
FCA welcomes Financial Services BillOctober 2020
FCA and Bank of England encourage market participants in further switch to SONIA in interest rate swap marketsSeptember 2020
FCA statement on planned amendments to the Benchmarks RegulationJune 2020
Benchmarks Regulation – proposed new powersJune 2020
Further statement from the RFRWG on the impact of Coronavirus on the timeline for firms’ LIBOR transition plansApril 2020
Impact of the coronavirus on firms’ LIBOR transition plansMarch 2020
LIBOR contractual triggersMarch 2020
Next steps for LIBOR transition in 2020: the time to act is nowJanuary 2020
Conduct risk during LIBOR transition: Question and answersNovember 2019
The Bank of England and FCA launch next phase of sterling LIBOR transition workNovember 2017
Panel banks agree to support LIBOR until end 2021November 2017

FCA speeches

Title Date
So long LIBOR – 3 weeks to go December 2021
LIBOR – 6 months to go July 2021
LIBOR – are you ready for life without LIBOR from end-2021? January 2021
LIBOR transition – the critical tasks ahead of us in the second half of 2020 July 2020
Next steps in transition from LIBOR November 2019
LIBOR: preparing for the end July 2019
Ending reliance on LIBOR: Overview of progress made on transition to overnight risk-free rates and what remains to be done February 2019
LIBOR transition and contractual fallbacks January 2019
Interest rate benchmark reform: transition to a world without LIBOR July 2018
The future of LIBOR July 2017

FCA publications

Title Date
Review of the use of our Article 23D power for 3-month synthetic sterling LIBOR February 2024
LIBOR and the FCA's new powers under the UK Benchmarks Regulation: questions and answers October 2021
FCA and PRA Dear CEO Letter: Transition from LIBOR to Risk-Free-RatesLink is external March 2021
Joint letter from Bank of England and FCA to trade associations March 2020
Dear CEO letter - Asset management firms: prepare now for the end of LIBOR February 2020
FCA letter to ISDA on an unrepresentative LIBOR January 2020
FCA and PRA Dear SMF letter: Next steps on LIBOR transition January 2020
Conduct risk during LIBOR transition November 2019
Feedback on the Dear CEO letter on LIBOR transition June 2019
FCA and PRA Dear CEO LIBOR letter September 2018

Financial Stability Board publications

TitleDate
Final Reflections on the LIBOR TransitionLink is externalJuly 2023
FSB Statement to Encourage Final Preparations for the USD LIBOR transitionLink is externalApril 2023
FSB Statement to Support Preparations for LIBOR CessationLink is externalNovember 2021
FSB issues statements to support a smooth transition away from LIBOR by end 2021Link is externalJune 2021
FSB encourages broad and timely adherence to the ISDA IBOR Fallbacks ProtocolLink is externalOctober 2020
Global transition roadmap for LIBORLink is externalOctober 2020
Supervisory issues associated with benchmark transition: Report to the G20Link is externalJuly 2020
FSB statement on the impact of COVID-19 on global benchmark reformLink is externalJuly 2020
User’s guide for overnight RFRsLink is externalJune 2019
Interest rate benchmark reform – overnight risk-free rates and term ratesLink is externalJune 2018
Reforming Interest Rate BenchmarksLink is external. Note: annual progress reports following the July 2014 report can also be found on the FSB websiteLink is externalJuly 2014

IOSCO publications

TitleDate
Statement on Alternatives to USD LIBOR Link is externalJuly 2023
Statement on Credit Sensitive RatesLink is externalSeptember 2021
Statement on Benchmarks TransitionLink is external June 2021
Statement on Communication and Outreach to Inform Relevant Stakeholders Regarding Benchmarks TransitionLink is externalJuly 2019
Statement on Matters to Consider in the Use of Financial BenchmarksLink is externalJanuary 2018

Other external publications

Title Date
CFTC announcement on SOFR First for Additional Cross-Currency DerivativesLink is external December 2021
Federal Reserve issue Answers to Frequently Asked Questions on the Transition Away from LIBORLink is external November 2021
Joint Statement on Managing the LIBOR Transition from US federal financial institution regulatory agenciesLink is external October 2021
CFTC announcement on SOFR first for non-linear derivativesLink is external October 2021
CFTC’s Market Risk Advisory Committee’s Interest Rate Benchmark Reform Subcommittee Recommends SOFR FirstLink is external June 2021
Financial Services Act 2021Link is external May 2021
Descending safely: Life after LiborLink is external May 2021
ISDA webinar – The Path Forward for LIBOR and transcriptLink is external December 2020
Joint Statement on LIBOR Transition from US federal financial institution regulatory agenciesLink is external November 2020
Calling time on LIBOR: Why you need to act nowLink is external January 2020
: Link added Update for June 2024

About LIBOR transition

LIBOR resources
Benchmarks Regulation: our powers, policy and decision-making