Working Group publishes pack on LIBOR transition

The Working Group on Sterling Risk-Free Reference Rates (Working Group) has published a communication pack entitled ‘Preparing for 2022: what you need to know about LIBOR transition’.

The pack is designed to inform readers about the transition from LIBOR to SONIA and covers the following areas:

  • the problem with LIBOR;
  • why SONIA is the preferred alternative;
  • what firms should be doing;
  • the role of the Working Group;
  • transition challenges;
  • Working Group milestones; and
  • what’s happening internationally

The pack will be updated periodically to reflect relevant updates.