In a series of statements and reports, the Financial Stability Board highlighted recommendations to facilitate an orderly transition from the London Inter-Bank Offered Rate ("LIBOR") by the end of 2021.
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In a report called the "Global Transition Roadmap," the Financial Stability Board laid out USD LIBOR transition timelines for market participants with exposure to LIBOR cessation risk.
In a new report, the Financial Stability Board identified the remaining challenges concerning the transition away from LIBOR.
The Financial Stability Board urged market participants to continue working to remove remaining dependencies on LIBOR by the end of 2021.