Running LIBOR’s Final Lap: A Comprehensive Interview with EY’s LIBOR Transition Team Leaders

The London Interbank Offered Rate (LIBOR), a once-ubiquitous benchmark tied to financial contracts ranging from prosaic consumer loans to complex derivatives, is taking its final lap. U.S. regulators have said U.S. dollar LIBOR should not be used as a benchmark rate for new agreements past December 31, 2021. In addition, by June 30, 2023, all legacy contracts that reference U.S. dollar LIBOR must be amended to a replacement rate. (In the U.S., the Alternative Reference Rates Committe…