ISDA Comments on the Recommendations of the UK’s Financial Services Authority on Libor

In its comment letter to the Wheatley Review, ISDA stated that it fully supports the view of, and recommendation by, the Financial Services Authority to comprehensively reform Libor, rather than replacing it.  ISDA believes that economically, Libor continues to be hugely relevant to, and necessary for the proper functioning of, the OTC derivatives market and the underlying markets to which the derivatives relate.

View letter in full here (links externally to PDF).  To view the consultation to which ISDA is responding, click here to the related news item, which will take one to a summary page in regard to the consultation, from which one may link to the consultation itself.