FCA, the BoE and the Sterling Risk-Free Reference Rates group have reminded firms to keep in mind that they should still not rely on LIBOR being published after the end of 2021. However, the regulators understand that the timing of firms’ transition planning may be affected by Covid-19 and that they are aware the loan market in particular may still be more reliant on LIBOR than originally planned. They will continue to monitor the situation and the impact on transition timelines
