Matt Levine’s Money Stuff: Libor Is Going Away for Real

Libor is canceled

I guess they were serious about that, huh:

Regulators kicked off the final countdown for the London interbank offered rate Friday, ordering banks to be ready for the end of a much maligned benchmark that’s been at the heart of the international financial system for decades.

The U.K. Financial Conduct Authority confirmed that the final fixings for most rates will take place at end of this year, with just a few key dollar tenors set to linger for a further 18 months.

Here is the FCA’s announcement, and here is one from Intercontinental Exchange Inc. ...