The International Swaps and Derivatives Association, Inc. (ISDA) fully supports the view of, and recommendation by, the Financial Services Authority to comprehensively reform Libor, rather than replacing it. As outlined in our response to the Wheatley Review on September 7, ISDA believes that economically Libor continues to be hugely relevant to, and necessary for the proper functioning of, the OTC derivatives market and the underlying markets to which the derivatives relate.
ISDA also supports the recommendations made by the Financial Services Authority in the areas of regulation, governance and changes to the rate itself.
Please click here to view ISDA’s response to the Wheatley Review.
