LIBOR-SONIA Transition Update May 2021

Following our update in March 2021 the LIBOR-SONIA Transition process is gathering pace. This update focuses on timescales and our experience of the process to date. The Risk Free Reference Working Group (“RFRWG”) announced the following on 5th March 2021: LIBOR rates will no longer be published beyond 31st December 2021. The Fallback Spread Adjustment…