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On November 30, 2020, ICE Benchmark Administration
(“IBA”), the administrator of U.S. Dollar LIBOR
(“USD LIBOR”) and other IBORs, lowered the pressure
with respect to the upcoming cessation of USD LIBOR. IBA announced
that, following a consultation in December and January, (i) it
intends to cease publication of 1-week and 2-month USD LIBOR at the
end of 2021 and (ii) subject to compliance with applicable
regulations, including as to representativeness, it does not intend
to cease publication of the remaining USD LIBOR tenors until June
30, 2023.
1 This IBA announcement followed an