Two synthetic sterling LIBOR settings to end in March 2023

3-month to continue for ‘limited period’

Two synthetic sterling LIBOR measures will cease to exist following 31 March 2023, with synthetic yen LIBOR due to come to an end this year.

Following market consultation, the Financial Conduct Authority revealed that it would bring the use of one month and six month synthetic sterling LIBOR to an end after its final publication on 31 March 2023. Feedback from the consultation found the majority of respondents were either positive or neutral on the opinion that these settings could cease in an orderly fashion by this date. FCA reasserts need to transition from LIBOR as end-date approaches However, 3-month synthetic sterling LIBOR is likely to continue for a "limited period" past this date owing to mixed opinions, but th...