Libor’s Exit Sparks Legal Fears for Global Banks, Moody’s Says

Investing.com | Sep 30, 2020 at 2:00 AM
  • Concerns persist about lawsuits if borrowers reach a cliff-edge scenario.
  • Some 77% of firms including asset managers and insurers report their transition plans are on schedule, the ratings firm found in a survey.
  • Banks are intensifying their exit plans, with U.K. lender Lloyds Banking Group Plc (LON:LLOY) seeking holders’ permission to switch bonds from Libor to the Sterling Overnight Index Average, known as Sonia.