On 23 April 2021, the Working Group on Sterling Risk-Free Reference Rates issued a statement setting out a range of considerations intended to help market participants, across GBP bond, loan and derivative markets, assess and prioritise the active transition of legacy GBP LIBOR contracts to SONIA. For derivative market participants who may rely on ISDA’s IBOR fallbacks, the Working Group has also published a paper providing infrastructure and operational considerations to inform their planning and preparation for the operationalisation of fallbacks in non-cleared linear GBP LIBOR derivatives.
Working Group on Sterling Risk-Free Reference Rates – Active transition of legacy GBP LIBOR contracts and operational considerations for fallbacks in uncleared linear derivatives
Posted in Benchmarks – IBOR transition, United Kingdom
