Libor switchover for loan disputes & defaults may be a snag for banks

After allegations of manipulation and collusion by big global banks, the end of Libor began in 2017, with 2023 decided as the last year in the transition road. By end-2021 many banks had stopped drawing contracts using Libor and June 2023 was set as the deadline for replacing the guiding rate.

from Banking/Finance-Industry-Economic Times https://ift.tt/QtomR4k