Released 29 September 2021
The Financial Conduct Authority (FCA) is asking for views on its proposals to use new powers for certain LIBOR settings.
The proposed decisions are on whether and how to:
•permit legacy use of 1-month, 3-month and 6-month sterling and 1-month, 3-month and 6-month yen LIBOR from 1 January 2022; and
•prohibit new use of overnight, 1-month, 3-month, 6-month and 12-month US dollar LIBOR.
The proposals are intended to ensure that the FCA has the appropriate regulatory powers to help reduce risks to market integrity and consumer protection in the wind-down period before LIBOR ceases permanently.
Comments are requested by 20 October 2021.
More information can be found at: https://www.fca.org.uk/publications/consultation-papers/cp21-29-proposed-decisions-libor-articles-23c-21a-bmr.