Marcus Morton, Managing Director in Duff & Phelps’ Valuation Advisory practice, was recently featured in Reuters discussing the Libor transition deadline.
While global regulators want to maintain the deadline for end 2021, banks and businesses are too busy managing the effects of COVID-19 and are no longer prioritizing the transition from Libor.
“There was already a view that this deadline was about as far back as you could go, pushing it back further would just mean... you make a bad problem worse,” said Marcus, as banks would continue to submit a rate no longer representative of underlying trades.
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