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Swiss-franc Libor mortgages could be automatically amended under EU plans

( March 23, 2021, 12:29 GMT | Official Statement) -- MLex Summary: Mortgage contracts referencing the London Interbank Offered Rate denominated in Swiss francs, Libor CHF, could be automatically amended under proposals floated by the European Commission today. The soon-to-be-defunct financial index could be replaced by the Swiss Average Rate Overnight, known as Saron, given fears of disruption of financial markets, a consultation has found.Stabilité financière : la Commission lance une consultation publique sur la désignation d'un taux de remplacement légal de l'indice de référence pour le LIBOR en franc suisse...

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