March 5, 2021 - The LSTA is pleased to see the FCA announcement of LIBOR cessation dates, as expected. The FCA has confirmed that sterling, euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings will either cease to be provided or no longer be representative immediately after December 31, 2021. All other U.S. dollar settings will cease or be no longer representative after June 30, 2023. Lenders and borrowers now have clarity into LIBOR cessation and economics and can continue their LIBOR transition plans with certainty.
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