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
 10.08.2020 0.07113
 07.08.2020 0.07263
 06.08.2020 0.07463 
 05.08.2020 0.07163
 04.08.2020 0.07713
 03.08.2020 0.07913
 31.07.2020 0.08438
 30.07.2020 0.08213
 29.07.2020 0.10650
 28.07.2020 0.09188
 27.07.2020 0.08725
 24.07.2020 0.08425
 23.07.2020 0.08100
 22.07.2020 0.07800
 21.07.2020 0.07988
 20.07.2020 0.07600
 17.07.2020 0.07763
 16.07.2020 0.08438
 15.07.20200.08238 
 14.07.2020 0.08000
 13.07.2020 0.08850
 10.07.2020 0.09313
 09.07.2020 0.09300
 08.07.2020 0.11538
 07.07.2020 0.12000
 06.07.2020 0.10663
 03.07.2020 0.11200
 02.07.2020 0.13775
 01.07.2020 0.15088

EUR

Effective from Rate
 10.08.2020 -0.47543
 07.08.2020 -0.47086
 06.08.2020 -0.46857
 05.08.2020 -0.46943
 04.08.2020 -0.45771
 03.08.2020-0.45157 
 31.07.2020-0.44471
 30.07.2020-0.44057
 29.07.2020 -0.44529
 28.07.2020 -0.44571
 27.07.2020 -0.44400
 24.07.2020 -0.43543
 23.07.2020 -0.43700
 22.07.2020 -0.43643
 21.07.2020 -0.44500
 20.07.2020 -0.44114
 17.07.2020 -0.44414
 16.07.2020 -0.45171
 15.07.2020 -0.45471
 14.07.2020 -0.43914
 13.07.2020 -0.44114
 10.07.2020 -0.43814
 09.07.2020 -0.43929
 08.07.2020 -0.43157
 07.07.2020 -0.42786
 06.07.2020 -0.43514
 03.07.2020 -0.42329
 02.07.2020 -0.39886
 01.07.2020 -0.41129

CHF

Effective from Rate
 10.08.2020 -0.70080
 07.08.2020 -0.70080
 06.08.2020 -0.70220
 05.08.2020 -070080
 04.08.2020-0.70360 
03.08.2020  -0.70500
 31.07.2020

-0.70480

 30.07.2020 -0.70660
 29.07.2020 -0.70820
 28.07.2020 -0.70680
 27.07.2020 -0.70440
 24.07.2020 -0.69640
 23.07.2020 -0.69520
 22.07.2020 -0.69340
 21.07.2020 -0.69360
 20.07.2020 -0.69400
 17.07.2020 -0.69340
 16.07.2020 -0.68880
 15.07.2020 -0.69000
 14.07.2020 -0.68920
 13.07.2020 -0.68900
 10.07.2020 -0.68820
 09.07.2020 -0.68480
 08.07.2020 -0.68600
 07.07.2020 -0.68000
 06.07.2020 -0.68380
 03.07.2020 -0.68020
 02.07.2020 -0.68020
 01.07.2020 -0.67720
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
     10.08.2020 0.07113
     07.08.2020 0.07263
     06.08.2020 0.07463 
     05.08.2020 0.07163
     04.08.2020 0.07713
     03.08.2020 0.07913
     31.07.2020 0.08438
     30.07.2020 0.08213
     29.07.2020 0.10650
     28.07.2020 0.09188
     27.07.2020 0.08725
     24.07.2020 0.08425
     23.07.2020 0.08100
     22.07.2020 0.07800
     21.07.2020 0.07988
     20.07.2020 0.07600
     17.07.2020 0.07763
     16.07.2020 0.08438
     15.07.20200.08238 
     14.07.2020 0.08000
     13.07.2020 0.08850
     10.07.2020 0.09313
     09.07.2020 0.09300
     08.07.2020 0.11538
     07.07.2020 0.12000
     06.07.2020 0.10663
     03.07.2020 0.11200
     02.07.2020 0.13775
     01.07.2020 0.15088
  • EUR

    EUR

    EUR

    Effective from Rate
     10.08.2020 -0.47543
     07.08.2020 -0.47086
     06.08.2020 -0.46857
     05.08.2020 -0.46943
     04.08.2020 -0.45771
     03.08.2020-0.45157 
     31.07.2020-0.44471
     30.07.2020-0.44057
     29.07.2020 -0.44529
     28.07.2020 -0.44571
     27.07.2020 -0.44400
     24.07.2020 -0.43543
     23.07.2020 -0.43700
     22.07.2020 -0.43643
     21.07.2020 -0.44500
     20.07.2020 -0.44114
     17.07.2020 -0.44414
     16.07.2020 -0.45171
     15.07.2020 -0.45471
     14.07.2020 -0.43914
     13.07.2020 -0.44114
     10.07.2020 -0.43814
     09.07.2020 -0.43929
     08.07.2020 -0.43157
     07.07.2020 -0.42786
     06.07.2020 -0.43514
     03.07.2020 -0.42329
     02.07.2020 -0.39886
     01.07.2020 -0.41129
  • CHF

    CHF

    CHF

    Effective from Rate
     10.08.2020 -0.70080
     07.08.2020 -0.70080
     06.08.2020 -0.70220
     05.08.2020 -070080
     04.08.2020-0.70360 
    03.08.2020  -0.70500
     31.07.2020

    -0.70480

     30.07.2020 -0.70660
     29.07.2020 -0.70820
     28.07.2020 -0.70680
     27.07.2020 -0.70440
     24.07.2020 -0.69640
     23.07.2020 -0.69520
     22.07.2020 -0.69340
     21.07.2020 -0.69360
     20.07.2020 -0.69400
     17.07.2020 -0.69340
     16.07.2020 -0.68880
     15.07.2020 -0.69000
     14.07.2020 -0.68920
     13.07.2020 -0.68900
     10.07.2020 -0.68820
     09.07.2020 -0.68480
     08.07.2020 -0.68600
     07.07.2020 -0.68000
     06.07.2020 -0.68380
     03.07.2020 -0.68020
     02.07.2020 -0.68020
     01.07.2020 -0.67720

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.