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.
On October 20, ICE Benchmark Administration Limited (IBA) published a position paper on the evolution of the London Interbank Offered Rate (LIBOR) (also known as ICE LIBOR).
The paper sets out: IBA’s findings since it became the administrator of LIBOR in February 2014; proposed enhancements following the Financial Stability Board’s publication on Reforming Major Interest Rate Benchmarks; and an invitation for views on the proposals from all stakeholders in LIBOR. Position Paper.
