Next steps on LIBOR transition

Joint letter from PRA and FCA to nominated Senior Manager of major banks and insurers supervised in the UK with responsibility for LIBOR transition
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.   
Published on 16 January 2020

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