Residential property
13 Feb 2020 News

LIBOR Update

2020 is set to be a significant year in the Bank of England’s planned LIBOR phase-out.

The BoE’s Financial Policy Committee has raised concerns that firms need to step up their preparations for LIBOR being phased out by the end of next year.

Guidance from the BoE has recently been published with a view to flagging key milestones and clarifying steps market participants should consider with a view to reducing their LIBOR exposure and facilitating a smooth transition to alternative screen rates.

Further information on the published guidance can be found here.

As identified in previous articles, the phasing out of LIBOR in 2021 will have practical implications for many Corporate Borrowers. We are of course happy to discuss in detail any specific concerns that businesses may have in relation to any current or planned LIBOR facility.

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