In our October 2019 alert, we advised that LIBOR (London Interbank Offered Rate) will not be available for use as an interest rate index after December 31, 2021 (the LIBOR Cessation). As the end of 2021 approaches, here is...more
Along with the Prime Rate, LIBOR (London Interbank Offered Rate) has been a benchmark index for short-term interest rates, going-on 40 years. Needing a short-term interest rate index besides the Prime Rate, bankers started...more