Pandemic Delays Market’s Shift From Libor, StanChart Says
- Q&A with John Tan, global head, financial markets regions
- Libor administrator has said it’s looking to delay phase-out
John Tan
Photographer: Nora Tam/South China Morning Post via Getty Images
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The pandemic has delayed the global market’s shift away from the London Interbank Offered Rate (Libor), according to a banker closely involved with the work.
John Tan, global head, financial markets regions at Standard Chartered Bank, spoke to Bloomberg News about the transition away from the key interest rate benchmark. Tan and his team oversee the move of all financial products to risk-free rates for StanChart globally.