Libor: Bank of England seeks to plug ‘term’ gap by 2019
Stretching Libor term rates to cover its replacement Sonia has been difficult, but Britain's central bank has set out a solution in a new consultation paper.
A Bank of England (BoE) working group on Libor believes term rates for its replacement Sonia – one of the biggest sticking points in transitioning to the new standard – could be available as soon as the second half of 2019.
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