Refinitiv: Launches USD IBOR Cash Fallbacks prototype
- Refinitiv, an LSEG business, is one of the world’s largest providers of financial markets data and infrastructure
- The USD IBOR Cash Fallbacks, as the rates will be known, will leverage the firm’s extensive experience in administering benchmarks
- The London InterBank Offered Rate (LIBOR) underpins hundreds of trillions of dollars of financial instruments and contracts
- On March 5, 2021 the Financial Conduct Authority (FCA) announced that 1-week and 2-month US Dollar LIBOR settings
- The USD IBOR Cash Fallbacks prototype supports market participants including lenders and borrowers
- There are two versions of the USD IBOR Cash Fallbacks: one for consumer cash products, the other for institutional cash products
