Japanese Bankers Association

JBA launches a web page for “LIBOR Transition”

The London Interbank Offered Rate (LIBOR) is currently one of the most important benchmarks in the financial markets and is linked to contracts worth trillions of US dollars.

The UK Financial Conduct Authority (FCA) has stated that after 2021 it will no longer compel panel banks to submit rates used for the calculation of LIBOR, so it is likely to be permanently discontinued by the end of 2021.

Therefore, market participants, including financial institutions and non-financial corporations and institutional investors, need to prepare for the transition.

On June 26 2020, JBA launched a web page which provides information regarding “LIBOR Transition” to help market participants better understand the necessity of taking actions.

Please refer to “https://www.zenginkyo.or.jp/en/libor/”.