At one time not that long ago, you could find Libor in everything: mortgages, corporate loans, credits cards and more. Now, its days are numbered. The FT’s Harriet Clarfelt and Philip Stafford take us back to the 1980s origins of the scandal-ridden benchmark rate, how its reputation came apart and why, with just weeks to go before a June 30 deadline, one part of the financial world is still racing to leave it behind.
For further reading:
Loan market braced for rush to Libor finish line)
The pain and SOFRing are almost over)
‘Litigation will take over’: US lawmakers warned of Libor chaos)
On Twitter, follow Harriet Clarfelt (@HClarfelt)), Philip Stafford (@staffordphilip)) and Michela Tindera (@mtindera07))
Read a transcript of this episode on FT.com)
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