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End of LIBOR looming
4 June 2021
On 2 June 2021, the Financial Stability Board (FSB) announced that all new use of LIBOR benchmarks should cease as soon as practicable.
The FSB also released:
- an updated Global Transition Roadmap for LIBOR incorporating the confirmed LIBOR cessation dates and transition milestones set across the different LIBOR jurisdictions
- a statement encouraging the adoption of overnight risk-free rates where appropriate, rather than waiting for the development of additional tools, in particular forward-looking term risk-free rates
- a statement supporting the use of the ISDA spread adjustments in cash products.
Latest news
Key News: “The Cash Distribution Framework is an important piece of regulatory reform to ensure the continued availability of cash given the decline in its usage and recent uncertainties across the sector.” ABA CEO Simon Birmingham. Media release, 3 September 2026. Media & Communications Update: Political Update: Economic Update: Regulatory Update Upcoming Submissions Selected Media… Read more »
Key News: “You might just think it’s harmless letting somebody access your bank account and getting a few hundred bucks in return, but these are crime syndicates, these are money launderers. You may well be helping to scam a vulnerable Australian out of their life savings.” ABA CEO Simon Birmingham. Interview with 2SM’s Tim Webster,… Read more »
Key News: “Every dollar of bank profits that gets reinvested into bank capital, generates on the analysis we showed this week, $4.70 of economic activity across the Australian economy.” ABA CEO Simon Birmingham. Interview with Ross Greenwood, 21 June. Media & Communications Update: Political Update: Economic Update: Regulatory Update Upcoming Submissions Selected Media Warm regards,The… Read more »