Libor to become third-country benchmark under no-deal Brexit

UK-based reference rate would need to gain EU approval by end-2019 to avoid “unthinkable” disruption

Storm-clouds-over-Libor
Time will be tight for UK benchmark providers to gain EU acceptance

Libor would lose its authorised benchmark status in the European Union in a no-deal Brexit scenario, leaving nine months for the reference rate’s administrator to reapply as a third-country provider, a lawyer has warned.

“[If there’s not a deal] then the market is faced with the prospect at the end of March next year of UK-based benchmark administrators who are on the EU’s benchmark register suddenly having that authorisation effectively [disappear],” says Peter Green, a senior lawyer at

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: