UK watchdog says milestones for ending Libor hit by coronavirus
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LONDON (Reuters) - Meeting some of the milestones for ending the use of Libor for pricing loans could be difficult for some firms, Britain's Financial Conduct Authority said on Wednesday.Libor or London Interbank Offered Rate is an interest rate benchmark used in contracts worth around $400 trillion globally and the FCA has set an end of 2021 date for ending its use, after banks were fined billions of dollars for trying to rig it."The central assumption that firms cannot rely on Libor being..