The LIBOR Code of Conduct (the LIBOR Code) sets out the practice standards adopted by ICE Benchmark Administration Limited for benchmark submitters to ICE LIBOR. The Code provides the framework within which contributing banks should operate and assists users in deciding whether LIBOR is an appropriate benchmark to use in contracts. The Code also sets out the responsibilities of the benchmark administrator and its oversight committee.
In February 2014 the FCA added the LIBOR Code to its list of confirmed industry guidance.
Version 3 of the LIBOR Code was published on 1 August 20016. The updated LIBOR Code is confirmed industry guidance for a period of 3 years from 1 August 2016 or, if earlier, until such time as the LIBOR Code is required to be amended in accordance with the EU Benchmarks Regulation.
View FCA confirmed industry guidance, 5 August 2016