After allegations of manipulation and collusion by big global banks, the end of Libor began in 2017, with 2023 decided as the last year in the transition road. By end-2021 many banks had stopped drawing contracts using Libor and June 2023 was set as the deadline for replacing the guiding rate.source https://economictimes.indiatimes.com/industry/banking/finance/banking/libor-switchover-for-loan-disputes-defaults-may-be-a-snag-for-banks/articleshow/98922872.cms
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