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Bank of England official urges companies to identify 'absolutely pervasive' Libor exposures outside financial sector

By Neil Roland ( June 28, 2021, 15:27 GMT | Insight) -- A Bank of England official made a plea to corporations to identify “absolutely pervasive” Libor exposures outside the financial sector — including in contracts, leases, joint venture agreements and industry-standard technical specifications – well before the benchmark expires at the end of the year. “Don’t think Libor just sits in Treasury, it sits everywhere,” said Frances Hinden, vice chair of the Bank of England’s risk-free-rates working group.A Bank of England official made a plea to corporations to identify “absolutely pervasive” Libor exposures outside the financial sector — including in contracts, leases, joint venture agreements and industry-standard technical specifications — well before the benchmark expires at the end of the year....

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