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States review loan contracts ahead of Libor s end Thursday July 08 2021 Summary After the big “Libor scandal” of 2011, following widespread allegations of Libor manipulation, it became evident that the benchmark had been fiddled with for years. This led to a full-blown inquiry, and the UK Financial Conduct Authority, which oversees global benchmarks, announced in 2017 that use of the Libor would end on December 31, 2021 for the sterling, the euro, Swiss franc, and the Japanese yen. Advertisement After “scandal” of 2011, of widespread allegations of manipulation, it became evident the Libor global benchmark rate had been fiddled with for years. Kenya is reviewing its loan contracts ahead of the cessation of the London Interbank Offered Rate (Libor) to align them with the new risk-free rates,

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