ICE Benchmark Administration (IBA) has been consulting on proposals for the evolution of the LIBOR benchmark. Have your say now.
IBA’s Roadmap paper on the Evolution of LIBOR, published 18 March 2016, sets out a new standardised submissions methodology for contributor banks. While there are no plans to discontinue any of the current 35 LIBOR rates, it may be that certain currency / tenor rates are harder to centrally calculate than others, hence it would be very useful to understand the usage and also the available alternatives and fall-backs for each of the LIBOR rates.
As part of this process, ICE Benchmark Administration are asking global users of LIBOR rates to complete a brief questionnaire by the 22 April, to help them understand the current level and nature of use for each of the 35 daily LIBOR rates.
The questionnaire can be found online and should take no more than 5 minutes to complete. It asks which currencies, which tenors and for what reasons corporates use LIBOR (external loans, internal loans, derivatives etc.).
Please spare the time to complete the confidential survey (or pass along to one of your colleagues) so that we can ensure that as wide a response as possible is provided to IBA.
