Content Types: EventRegions & Countries: United Arab EmiratesUnited Kingdom...Industries: Banking & Finance
In July 2017, the UK’s Financial Conduct Authority (FCA) announced that LIBOR was coming to an end. Banks will be required to transition away from LIBOR to Alternative Reference Rates (ARRs) based on overnight wholesale deposit rates from the end of 2021. Without any doubt, this transition is one of the largest upheavals of the financial markets in living memory.
COVID-19 has thrust the world into recession, which as a result akin to a domino effect, has led to rapid and accelerated change. Most notably, industries have pivoted online as we hurtle headlong into an increasingly digitalized society. In response to extended lockdowns, society has become more reliant on technology than it has ever been.