Libor will end in 2021: What happens next?
The FCA announced in 2017 that from 2021 it would cease to actively encourage panel banks to provide quotes which had facilitated the continued publication of LIBOR. It is therefore highly unlikely that LIBOR will continue to be published after the end of 2021. As this date approaches what preparations should borrowers make and what should they expect to happen post 2021? What are the implications for existing loan document and derivatives that will run past 2021 and also for new floating rate borrowing post 2021?