Dec. 28, 2021, 10:00 AM
The vast majority of Libor benchmarks are about to be consigned to the history books, with final settings taking place at the end of this week.
Around four-and-half years ago, the head of the U.K.’s Financial Conduct Authority declared that the beleaguered London interbank offered rate would end on the final day of 2021. Since then, the global financial system has mobilized to ensure it’s prepared to embrace new benchmarks.
Most Libor offerings will cease to exist after this Friday, although some tenors for the U.S. dollar will continue until June 2023. Still, even those are primary to help smooth …