BBA Sets Record Straight About Euro Libor Index
ASSOCIATIONS
LONDON--The British Bankers' Association (BBA) in London is preparing to replace its existing euro-zone Libor rates with a single index from December 30, says Simon Hills, a director of the BBA.
The new index, called Euro BBA Libor, will take over from the BBA's current Ecu Libor fixing rate as well as other "in" currencies.
Euro Libor is expected to remain the reference for legacy contracts after the switch to euro next year.
While in the longer term, Hills says the index will likely become the
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