Libor scandal

The European Commission, ECB Banking Supervision, EBA and ESMA encourage market participants to cease all LIBOR settings.

Retrieved on: 
Thursday, June 24, 2021
Finance, European Union, Money, Agencies of the European Union, Eurozone, Banking, Libor, European Banking Authority, European Securities and Markets Authority, European Central Bank, European System of Financial Supervision, Libor scandal

The European Commission, ECB Banking Supervision, EBA and ESMA encourage market participants to cease all LIBOR settings.

Key Points: 
  • The European Commission, ECB Banking Supervision, EBA and ESMA encourage market participants to cease all LIBOR settings.
  • The European Commission, the European Central Bank in its banking supervisory capacity (ECB Banking Supervision), the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) today issued a joint statement in which they strongly encourage market participants to use the time remaining until the cessation or loss of representativeness of USD LIBOR, GBP LIBOR, JPY LIBOR, CHF LIBOR and EUR LIBOR to substantially reduce their exposures to these rates.
  • The statement also encourages market participants to cease using the 35 LIBOR settings, including USD LIBOR, as a reference rate in new contracts as soon as practicable and by 31 December 2021 at the latest.
  • The European Commission, ESMA, ECB Banking Supervision and the EBA will monitor the situation and LIBOR exposures closely.

ICE Benchmark Administration to Consult On Its Intention to Cease the Publication of GBP, EUR, CHF and JPY LIBOR

Retrieved on: 
Wednesday, November 18, 2020
Finance, Public relations, Investor relations, Banking, Communications, Professional services, Money, Finance, Interest rates, Financial services, Swaps, Banking, Libor, United States housing bubble, New York Stock Exchange, Trademark, U.S. Dollar ICE Bank Yield Index, Libor scandal, ICE Benchmark Administration, Intercontinental Exchange

Discussions involving IBA, the Financial Conduct Authority (FCA), other official sector bodies and the panel banks are continuing regarding the future of USD LIBOR.

Key Points: 
  • Discussions involving IBA, the Financial Conduct Authority (FCA), other official sector bodies and the panel banks are continuing regarding the future of USD LIBOR.
  • Since then, the FCA and other official sector bodies have strongly advised end-users of the need to transition from LIBOR by December 31, 2021.
  • ICE LIBOR, LIBOR and ICE Benchmark Administration are registered trademarks of IBA and/or its affiliates.
  • Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.

Freddie Mac to Cease Issuing LIBOR-Indexed Floating Rate Unsecured Debt

Retrieved on: 
Monday, March 23, 2020
Economy, Money, Finance, Loans, Banking, Interest rates, United States housing bubble, Libor, Debt, Unsecured debt, Mortgage loan, Libor scandal

MCLEAN, Va., March 23, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today that, effective immediately, it will cease issuing LIBOR-indexed floating rate unsecured debt securities that mature beyond the end of 2021.

Key Points: 
  • MCLEAN, Va., March 23, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announced today that, effective immediately, it will cease issuing LIBOR-indexed floating rate unsecured debt securities that mature beyond the end of 2021.
  • The company has no outstanding LIBOR-indexed unsecured debt securities, and it has not issued LIBOR-indexed unsecured debt securities that mature beyond the end of 2021.
  • Freddie Macs decision to cease issuing LIBOR-indexed floating rate unsecured debt securities is a result of the announcement by the Chief Executive of the United Kingdom Financial Conduct Authority (FCA) that the FCA will no longer persuade or compel member panel banks to make LIBOR submissions after 2021.
  • Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders.