Intercontinental Exchange: FCA Reminds Users Of Cessation Of Final Three LIBOR Settings

(RTTNews) - Intercontinental Exchange (ICE) said the U.K. Financial Conduct Authority has confirmed that it will not use its powers to compel ICE Benchmark Administration, the authorized and regulated administrator of LIBOR, to continue to publish the 1-, 3- and 6-Month "synthetic" U.S. dollar LIBOR settings after September 30, 2024. These final three remaining LIBOR settings will cease after publication on this date. No new LIBOR settings will be published following September 30, 2024.

The users of LIBOR should take appropriate legal and regulatory advice in all relevant jurisdictions to ensure they understand and are prepared for the impact of the cessation of the remaining synthetic LIBOR settings on them and their counterparties.