Fed Tells Judge Scrapping Libor Too Soon Would Spur Market Chaos

Fed Tells Judge Scrapping Libor Too Soon Would Spur Market Chaos
Bloomberg, Aug. 16, 2021–Erik Larson
The Federal Reserve told a judge not to scrap Libor as requested by consumers in a lawsuit because it would pose a risk to financial stability and undermine years of global planning for a transition to a new benchmark for borrowing rates.
https://www.bloomberg.com/news/articles/2021-08-16/fed-tells-judge-scrapping-libor-too-soon-would-spur-market-chaos