EACT makes its submission to the UK government's LIBOR review

The EACT highlights the governance weaknesses associated with the LIBOR process and its support for regulatory oversight and the threat legal sanctions to deal with any future manipulation. We highlight that any replacement for LIBOR must provide for continuity and not disadvantage companies with LIBOR-based contracts. We also draw attention to the support expressed by treasurers for overnight index swaps (OIS) as a possible eventual replacement for LIBOR. Please click here to read the EACT's submission to the UK government's LIBOR review, and??here to read the accompanying press release.