Libor interest rate to be phased out after string of scandals

Index will not be used after 2021 despite reforms put in place because banks no longer want to participate in setting itThe Libor interest rate benchmark used to price billions of pounds of financial products, which was linked to a series of bank scandals, is to be phased out.The index will be phased out in 2021 despite a series of reforms put in place to clean up the way the rate is set. Continue reading...