Libor’s Death Has One Debt Guru Horrified Asia Isn’t Ready (1)

Feb. 14, 2020, 4:32 AM

When Andrew Ferguson talks to financial professionals across Asia about the looming demise of Libor, he’s often shocked at how little they seem to know about one of the most far-reaching changes to the global financial system in decades.

“A lot of people aren’t ready,” says Ferguson, a nearly 40-year veteran of the banking industry who’s now chief executive officer of the Asia Pacific Loan Market Association.

Call them the Libor procrastinators. With less than two years to go before authorities are due to phase out the scandal-plagued interest rate underpinning several-hundred trillion dollars of debt and derivatives around ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.