US dollar LIBOR panel ends

The US dollar LIBOR panel has ended, meaning that the overnight and 12-month US dollar LIBOR settings have permanently ceased. All new use of synthetic US dollar LIBOR is now prohibited under the Benchmarks Regulation.

The 1-, 3- and 6-month settings will continue to be published in synthetic form by ICE Benchmark Administration until the end of September 2024. The synthetic methodology will be based on the relevant CME Term SOFR Reference Rate plus the respective ISDA fixed spread adjustment.

Laura Wiles