What’s happening now?
RBS supports the market transition from LIBOR. We’re working closely with our regulators, market participants, industry bodies and trade associations, to make sure the transition is as smooth as possible.
What happens next?
We are waiting for the outcome of the Bank of England’s consultation on a term SONIA to help guide the direction of both existing LIBOR products and the development of new products. This will shape many of our transition plans.
We’ll be back in touch with our customers as these progress.