A transition away from Libor – which has been tarnished by rigging scandals – remains one of the largest challenges facing the industry.
The Financial Stability Board’s (FSB) Official Sector Steering Group (OSSG) coordinates international efforts on benchmark reform and the transition from Libor.
In July 2016, the OSSG asked the International Swaps and Derivatives Association (ISDA) to lead work to enhance the robustness of derivatives contracts referencing widely-used benchmarks like Libor.
