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Libor Discontinuation

Notice Concerning Change of LIBOR Cessation Effective Date

Date 2021.03.08

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The ICE Benchmark Administration Limited (“IBA”) and the Financial Conduct Authority of UK (“FCA”) announced on 5 March 2021 that the cessation date for five USD LIBOR settings (Overnight and 1, 3, 6 and 12 Months) was extended from 1 January 2022 to 1 July 2023, while other USD LIBOR settings (1 Week, 2 Months) and four other currency (GBP, EUR, JPY, CHF) settings in all tenors would cease from 1 January 2022 as previously announced.

 

 

Currency

Tenor

Cessation Date

Before

After

USD

1 Week, 2 Months

2022-1-1

2022-1-1

Overnight and 1, 3, 6, 12 Months

2023-7-1

GBP, EUR, JPY, CHF

 

All

2022-1-1

 

Please find links below for more details, and refer to our previous Notice (Notice Concerning Replacement of Interest Rate Benchmark) for the matters other than the change of LIBOR cessation effective date above.

 

① IBA announcement :

    https://ir.theice.com/press/news-details/2021/ICE-Benchmark-Administration-Publishes-Feedback-Statement-for-the-Consultation-on-Its-Intention-to-Cease-the-Publication-of-LIBOR-Settings/default.aspx

② FCA accouncement :

    https://www.fca.org.uk/news/press-releases/announcements-end-libor