RBI issues Roadmap for LIBOR Transition

RBI through circular dated July 08, 2021 has issued the Roadmap for LIBOR Transition. London Interbank Offered Rate (LIBOR) will either cease to be provided by any administrator or no longer be a representative rate:

(a) Immediately after December 31, 2021, in the case of all Pound sterling, Euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings; and

(b) Immediately after June 30, 2023, in the case of the remaining US dollar settings.

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