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IBOR Changes Bigger Than Brexit

Shankar Mukherjee, UK Financial Services Partner and IBOR Lead at EY, today shared his thoughts about the potential impact of the move away from LIBOR.  “The transition away from LIBOR is a fundamental change to the global financial services industry, and will touch any transaction that is based on the benchmark rate – this is hugely significant and will impact almost all areas of a financial institution’s business. In terms of scale, for many UK-based firms this could represent a bigger change to their business than Brexit. “Having set the deadline last year, the UK regulators have provided guidance around the timeline...