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U.S. Libor exposures larger than thought at $200 trillion
By Karen Brettell
Monday, March 5, 2018
A committee of large banks tasked with helping U.S. derivatives markets move away from reliance on the London interbank offered rate (Libor) said today that the benchmark rate underpins more derivatives and loans than previously thought, adding to the need to reduce its influence.
The Alternative Reference Rates Committee said that around $200 trillion in U.S. dollar-based derivatives and loans are based on Libor, with derivatives accounting for around 95 percent of the exposures.
That is 25 percent higher than previous estimates.
"The vast scale and broad scope of this activity underscores the necessity of promoting robust alternatives to Libor," the ARRC said in a report. ...
... For the remainder of the report:
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