LIBOR transition: five things all businesses need to do now
LIBOR will no longer be allowed as a reference rate in loan agreements or derivatives from 2021 and its use is rapidly diminishing. Over the next year banks must contact businesses with loans that charge interest based on LIBOR to agree what their new rate will be.
It’s time to act and understand what this means for your company if you have loans or derivatives referencing LIBOR.
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