Fed Warns That the End of Libor Really Is Coming, So Be Prepared

The Federal Reserve says the London interbank offered rate is going to come to an end and markets need to take warnings about that “seriously.”

That’s the message from Randal Quarles, the central bank’s vice chairman for banking supervision, speaking June 3 via pre-recorded video to a roundtable of the Alternative Reference Rates Committee.

Randal Quarles

Photographer: Zach Gibson/Bloomberg

“Clarity on the exact timing and nature of the Libor stop is still to come, but the regulator of Libor has said that it is a matter of how Libor will end rather than if it will end, and it is hard to see how ...