The ICE Benchmark Administration (“IBA“) released issue 5 of the LIBOR code of conduct on June 19, 2018. This document is intended to provide guidance as to the appropriateness of LIBOR as a benchmark rate in agreements, whilst also setting out a framework under which banks are to operate.

The publication of the code of conduct follows the draft version which was circulated in April 2018 and is available here. The code of conduct supersedes the previous issue.