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6 month In its announcement, the FCA made it clear that these nine tenors of LIBOR would no longer be representative after 30 June 2023 whether or not there was a determination to allow continued publication of a synthetic version of one or more of these tenors of LIBOR after that date. The FCA reminded market participants that, if permitted, the publication of Synthetic LIBOR would be intended to assist parties unable to transition tough legacy contracts by 30 June 2023.  Synthetic LIBOR will not be available for new contracts because, as noted above, is the LIBOR rate that a synthetic version continues would be unrepresentative for the purposes of UK BMR.

United kingdomUnited kingdom loan market associationUnited kingdom financial conduct authorityGroup on sterling riskEversheds sutherlandSterling working groupFree reference rates sterling working groupBloomberg investment servicesReference rates committeeWorking groupSterling risk free reference ratesBloomberg investment services limitedAdjustment fixingIndex cessation effective dateCalculation agentAlternative reference rates committee