bba libor announcement September 25, 2012Posted by Bradley in : financial regulation , trackback
Today the BBA announced:
The BBA seeks to work with the Wheatley review team as they complete their consultation on the future of LIBOR. If Mr Wheatley’s recommendations include a change of responsibility for LIBOR, the BBA will support that.
Press stories seem to assume that the BBA will be walking away. I am not sure what this would do for all of the transactions where the documentation refers to “BBA Libor” or “British Bankers Association Libor” (such as this one).