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UK: The BoE have said that to help the........>

LIBOR
LIBOR: UK: The BoE have said that to help the transition from LIBOR it intends
to publish a "daily SONIA Compounded Index" which are compounded over different
time periods.
"The interest due is calculated as a 'compound average' of the individual
overnight SONIA rates across the period. The resulting interest rate is
equivalent to a rolling overnight loan over the same period of time, but without
the operational overhead of daily cash flows. This calculation is long
established as the basis for the OIS market"
- "From 2020 Q3, the Bank will progressively increase the haircuts on
LIBOR-linked pre-positioned collateral. Haircuts are scheduled to reach 100%
(i.e. implying effective ineligibility) at the end of 2021."

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