As we approach the next key LIBOR transition milestone at the end of March, the Prudential Regulation Authority and the Financial Conduct Authority issued a joint “Dear CEO” letter to UK Banks which is a must-read for those firms impacted by LIBOR transition. Other businesses, financial services and non-financial services alike, should also accelerate their focus on the implications for their banking arrangements and financial products.
Some key points include:
Priority areas for banks – in summary:
If you would like to discuss the “Dear CEO” letter or any other element of your IBOR transition programme, don’t hesitate to reach out to us.