IBOR discontinuance
Preparing for Transition from IBOR to Risk-Free Rates
Interbank Offered Rates (“IBORs”), being the interest rate at which banks lend to and borrow from one another in the interbank market, are in the process of being reformed. There are a number of IBORs that are widely used in the financial markets including the London Interbank Offered Rate (“LIBOR”) and the Euro Interbank Offered Rate (“EURIBOR”).