Interest rate benchmarks including the London Interbank Offered Rate (LIBOR), the Euro Interbank Offered Rate (EURIBOR), the Euro Overnight Index Average (EONIA) and certain other Interbank Offered Rates (IBORs) are being reformed.
These reforms are expected to cause at least some IBORs to perform differently to the way they do currently or to disappear, which may impact the HSBC products and services you currently use and those we provide in the future.
Regulatory authorities and public and private sector working groups in several jurisdictions have been discussing the alternatives to IBORs but there is still uncertainty over when these alternative rates will be available and how the reforms will impact specific financial products and services.
To find out more about HSBC’s current understanding, please visit IBOR reforms.