participants in 10 million participants are unaware of whether they have any open contracts that might be impacted by the potential discontinuation of contracts , according to a recent survey . It also shows that more than 80 % of firms have yet to complete the process of implementing open contracts . Respondents blame lack of transparency in the treatment of fallbacks .
One in 10 market participants are unaware of whether they have any open contracts that will be impacted by the potential discontinuation of LIBOR, according to a recent survey. It also shows that more than 80% of firms have yet to begin the process of amending existing contracts. Respondents blame lack of standardisation in the treatment of fallbacks.