ICE LIBOR

(formerly known as BBA LIBOR) as provided by the ICE Benchmark Administration & Currency Account Rates

Changes to the LIBOR reference rates

The upcoming phase-out of the interbank reference rates (IBORs) in favour of alternative risk free reference rates (RFRs) means notable changes in the global financial system. The aim of the new RFRs is to make sure that, in the future, reference rates will be transaction based and more transparent in order to create a more fair, robust and reliable market.

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3 month reference rates from TeleTrader include these currencies:

3 month ICE LIBOR (formerly known as BBA LIBOR) rates, listed below, are provided by ICE and are updated 24 hours after the date of publication on business days only.

GBP

Effective from Rate
 31.03.2020 0.59550
 30.03.2020 0.57025
 27.03.2020 0.55625
 26.03.2020 0.55275
 25.03.2020 0.55288
 24.03.2020 0.54188
 23.03.2020 0.52225
 20.03.2020 0.53663
 19.03.2020 0.58038
 18.03.2020 0.53338
 17.03.2020 0.51263
 16.03.2020 0.48675
 13.03.2020 0.50550
 12.03.2020 0.46025
 11.03.2020 0.38275
10.03.20200.53425
09.03.20200.47188
06.03.20200.51788
05.03.20200.55063
04.03.20200.50300
03.03.20200.63950
02.03.20200.60138

EUR

Effective from Rate
 31.03.2020 -0.25471
 30.03.2020 -0.26471
 27.03.2020 -0.28914
 26.03.2020 -0.29571
 25.03.2020 -0.30771
 24.03.2020 -0.31686
 23.03.2020 -0.31000
 20.03.2020 -0.35300
 19.03.2020 -0.37657
 18.03.2020 -0.38514
 17.03.2020 -0.39543
 16.03.2020 -0.41971
 13.03.2020 -0.42729
 12.03.2020 -0.52143
 11.03.2020 -0.53914
10.03.2020-0.50957
09.03.2020-0.52600
06.03.2020-0.51829
05.03.2020-0.49657
04.03.2020-0.49157
03.03.2020-0.48714
02.03.2020-0.49443

CHF

Effective from Rate
 31.03.2020 -0.65540
 30.03.2020 -0.66400
 27.03.2020 -0.67400
 26.03.2020 -0.67420
 25.03.2020 -0.70460
 24.03.2020 -0.69540
 23.03.2020 -0.69260
 20.03.2020 -0.70080
 19.03.2020 -0.76720
 18.03.2020 -0.80480
17.03.2020 -0.81220
16.03.2020-0.78700 
13.03.2020-0.79400
12.03.2020-0.84360
11.03.2020-0.84660
10.03.2020-0.83420
09.03.2020-0.84680
06.03.2020-0.81340
05.03.2020-0.79480
04.03.2020-0.79140
03.03.2020-0.77380
02.03.2020-0.76900
3 month ICE LIBOR (formerly known as BBA LIBOR) rates, listed in the tabs below, are provided by ICE and are updated 24 hours after the date of publication on business days only.
  • GBP

    GBP

    GBP

    Effective from Rate
     31.03.2020 0.59550
     30.03.2020 0.57025
     27.03.2020 0.55625
     26.03.2020 0.55275
     25.03.2020 0.55288
     24.03.2020 0.54188
     23.03.2020 0.52225
     20.03.2020 0.53663
     19.03.2020 0.58038
     18.03.2020 0.53338
     17.03.2020 0.51263
     16.03.2020 0.48675
     13.03.2020 0.50550
     12.03.2020 0.46025
     11.03.2020 0.38275
    10.03.20200.53425
    09.03.20200.47188
    06.03.20200.51788
    05.03.20200.55063
    04.03.20200.50300
    03.03.20200.63950
    02.03.20200.60138
  • EUR

    EUR

    EUR

    Effective from Rate
     31.03.2020 -0.25471
     30.03.2020 -0.26471
     27.03.2020 -0.28914
     26.03.2020 -0.29571
     25.03.2020 -0.30771
     24.03.2020 -0.31686
     23.03.2020 -0.31000
     20.03.2020 -0.35300
     19.03.2020 -0.37657
     18.03.2020 -0.38514
     17.03.2020 -0.39543
     16.03.2020 -0.41971
     13.03.2020 -0.42729
     12.03.2020 -0.52143
     11.03.2020 -0.53914
    10.03.2020-0.50957
    09.03.2020-0.52600
    06.03.2020-0.51829
    05.03.2020-0.49657
    04.03.2020-0.49157
    03.03.2020-0.48714
    02.03.2020-0.49443
  • CHF

    CHF

    CHF

    Effective from Rate
     31.03.2020 -0.65540
     30.03.2020 -0.66400
     27.03.2020 -0.67400
     26.03.2020 -0.67420
     25.03.2020 -0.70460
     24.03.2020 -0.69540
     23.03.2020 -0.69260
     20.03.2020 -0.70080
     19.03.2020 -0.76720
     18.03.2020 -0.80480
    17.03.2020 -0.81220
    16.03.2020-0.78700 
    13.03.2020-0.79400
    12.03.2020-0.84360
    11.03.2020-0.84660
    10.03.2020-0.83420
    09.03.2020-0.84680
    06.03.2020-0.81340
    05.03.2020-0.79480
    04.03.2020-0.79140
    03.03.2020-0.77380
    02.03.2020-0.76900

LIBOR faqs

  • What is happening?

    In 2017, global banking regulators - including the UK’s Financial Conduct Authority (FCA) - announced significant changes to benchmark interest rates. Benchmark interest rates have been fundamental to the financial industry for decades and banks use them to price their products and services. These include relatively straightforward products such as loans, overdrafts and deposits. They are also used as the basis for more complex products such as securities and derivatives. The London Inter Bank Offered Rate (LIBOR) is one of the most widely used benchmark interest rates in the UK. In 2017, the FCA signalled its intention to encourage the UK financial services industry to take action to stop using LIBOR after the end of 2021.

  • What is LIBOR?

    LIBOR is a benchmark interest rate that is set on a daily basis by a panel of banks. Each bank submits interest rates at which it would offer to lend money to other banks. These rates are provided for different periods that range from ‘overnight’ to a period of up to twelve months. Using a defined method, an average of the rates submitted by contributors is calculated and the LIBOR interest rates for each agreed period is made publically available every working day by an appointed administrator.

  • Why is this change being made?

    The FCA has an objective to protect the integrity of the financial services industry. It has proposed to replace LIBOR benchmark interest rates with new “Risk Free Rates”. These benchmark interest rates differ from LIBOR as they will be based on actual transactions in active markets with prices driven by supply and demand. As a result, they will have minimal reliance on expert judgement from contributing banks. These new Risk Free Rates, and other widely used benchmark interest rates, are likely to be used to replace LIBOR across the range of impacted products.

  • When will this change take place?

    The Bank of England and the FCA has stated that from 31 December 2021, banks will no longer be compelled to provide LIBOR quotations. This means that the setting of this key benchmark interest rate will likely be discontinued.

  • What is Danske Bank UK doing?

    Work is currently underway across the financial services industry to replace LIBOR interest rates and manage the transition to these new Risk Free Rates. Whilst the effects of the transition are not yet fully clear, Danske Bank UK is fully engaged in the industry’s preparations to ensure a smooth and effective transition for customers and will continue to monitor developments.

  • How will it impact me or my business?

    LIBOR benchmark interest rates are most commonly used by Business and Corporate customers across many different products. Our priority is to ensure a smooth transition to the new benchmark interest rates in line with industry standards. We will be in touch with you directly if these upcoming changes impact you. For instance, this may occur if you have LIBOR-linked products that are due for renewal or if you require new products impacted by this change. You don’t need to do anything just yet. However, you may want to consider whether you require guidance from professional advisors on the possible implications of the upcoming changes from a financial, legal, accountancy or tax perspective.

  • Further Information

Disclaimer

In consideration for ICE Benchmark Administration ("IBA") coordinating and the LIBOR Contributor Banks and Thomson Reuters supplying the data from which BBA LIBOR is compiled, the subscriber acknowledges and agrees that, to the fullest extent permitted by law, none of IBA, the LIBOR Contributor Banks or Thomson Reuters:

  1. Accept any responsibility or liability for the frequency of provision and accuracy of the ICE LIBOR rate or any use made of the ICE LIBOR rate by the subscriber, whether or not arising from the negligence of any of IBA, the LIBOR Contributor Banks or Thomson Reuters; or
  2. Shall be liable for any loss of business or profits nor any direct, indirect or consequential loss or damage resulting from any such irregularity, inaccuracy or use of the Information.