Goodbye Libor, Hello Sonia

General

The publication of the London Inter Bank Offered Rate (Libor) will end by 31 December 2021. This will have major implications for housing association loan books throughout the UK. This note summarises those implications and looks at what actions housing associations need to take in preparation for the change. Download the ATFS full briefing for…

Don’t Be Caught out by the Dissolution of Libor

General

With Sonia set to replace Libor, Joseph Carr warns of major implications for housing association loan books throughout the UK. Over $350tn in corporate loans, derivatives, bonds, deposits and mortgages is tied to the London Inter-bank Offered Rate (Libor). Housing associations in England alone have a loan book of circa £92bn, and the interest on approximately 63…