The long-awaited protocol standardises the approach to robust Libor fallbacks in contracts, but will only be effective if efforts are matched in other areas of the transition
As tensions linger, market participants are increasingly worried that politics will prevail over economics and are calling on negotiators to revise their positions
The Financial Stability Board’s roadmap supplements existing timelines in other jurisdictions. Market participants believe it’s largely aimed at markets outside the US and UK
While most agree that some form of remedy is needed for tough legacy contracts across all Libor currencies, early criticism has emerged on the EU’s proposed solution
With just one quarter to go until the end of the transition period and limited progress on equivalence decisions, market participants are increasingly worried about future cross-border relations
