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The Bank of England has issued the following....>

BOE
BOE: The Bank of England has issued the following statement:
"The Bank of England welcomes the Government's intention to enhance the
Financial Conduct Authority's (FCA) powers to manage and direct an orderly
wind-down of LIBOR, which will help to mitigate risks after the end of 2021 that
could otherwise be posed by the narrow pool of tough legacy contracts that
cannot transition from LIBOR. As the Government and FCA have made clear today,
this should not be seen as a substitute for firms' own efforts to transition
their businesses to use of alternative rates ahead of this point, and PRA
supervisors will continue to engage closely with firms on those plans."
- This continues the transition away from LIBOR - nothing particularly new.

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