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Sterling RFR Working Group and the Transition Away From Libor
we are working with market participants to catalyse the transition of the sterling market risk free rate from libor to sonia by the end of 2021. the uk is making a broad-based transition to sonia across sterling bond, loan and derivative markets in order to reduce the financial stability risks arising from the current widespread reliance on libor. the membership of the working group includes banks and dealers, investment managers, non-financial corporates and other sterling issuers, infrastructure firms and trade associations. the bank of england and fca participate as ex-officio members. please note the views and outputs of the working group are not necessarily endorsed by the bank of england or the fca.
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