Quotes from the news wire:
A lot of the corporate market are waiting for a few things of which one is a term rate. And if they never get a term rate, then waiting will lead to them still executing Libor, and not being ready for Sonia. The clock is ticking, and the other point about having a term rate is you're starting to get back into a world where you are really recreating a new version of Libor.
Found on Reuters 5 years ago
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