As the end of March fast approaches, it brings with it the next important milestone in the transition away from LIBOR. This article examines where we are now in the transition including the implications of the recent FCA announcement regarding LIBOR cessation for existing LIBOR-based transactions as well as exploring what end of Q1 2021 deadline means in practice for future transactions and important considerations for funders and borrowers when switching to the new risk-free reference rates.
