Replacing LIBOR
The London Interbank Offered Rate or LIBOR, the global benchmark interest rate that impacts customers and companies borrowing money across the world, is to be replaced by the end of 2021, though uncertainty hangs on what the replacement will look like. As the industry grapples with replacing it, the key question is: with the advent of centralized data warehouses and data analytic tools, do market participants really need a new version of a survey-based benchmark or an entirely different process?
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