LIBOR is ending in 2021

5. March 2021

On December 31, 2021, the reference interest rate LIBOR for the euro, the pound sterling, the Swiss franc, the U.S. dollar and the Japanese yen will become obsolete.
LIBOR is still the most common benchmark interest rate in most loan agreements. It is estimated that over $200 trillion of credit around the world will be impacted by the end of LIBOR.
Any contract that directly references LIBOR will need to be modified by June 2023. If you are affected, we would be delighted to advise you.