Tax Newslettter - Are you ready for LIBOR transition?
05/05/2021 Regulators kicked off the final countdown for the London Interbank Offered Rate (LIBOR) on 5 March 2021. The U.K. Financial Conduct Authority confirmed that the final fixings for most LIBOR rates will take place at the end of this year, with just a few key dollar tenors set to live on for a further 18 months.
Along with a number of other IBORs – such as the Euro Interbank Offered Rate (EURIBOR) and Tokyo Interbank Offering Rate (TIBOR) – LIBOR is commonly used as a benchmark or reference rate for trillions of dollars of financial products and contracts. Despite the increasing importance of IBORs, regulators and some other industry participants have been looking to move away from these reference rates, largely because of long-running debates on data integrity and validity.
Read the below article on the LIBOR transition from a transfer pricing perspective.
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