Update 10 June:
A number of the Working Group milestones included in this letter have since been revised to take into account the impact of the Covid-19 pandemic. Where appropriate, supervisors have contacted the relevant firms to confirm the supervisory expectations related to the RFRWG targets (originally published
on 16th January 2020) continue to apply to the amended target
on new GBP Libor linked lending maturing after 2021.