FCA to allow the publication of Synthetic US Dollar LIBOR for a short period
The Financial Conduct Authority (FCA) has approved the calculation of the three US dollar LIBOR settings by the ICE Benchmark Administration Limited (IBA), using "the relevant CME Term Secured Overnight Financing Rate (SOFR) Reference Rate plus the respective ISDA fixed spread adjustment." FCA’s Monday statement said that the overnight and 12-month US dollar LIBOR settings…
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