Reference rate solutions
Project finance bankers and lawyers continue to seek alternatives to Libor, as the long-time reference rate for international lending continues to be volatile and at times set below the rates at which banks borrow from each other. Bank rates have been more volatile in recent months due to unexpected bank write-offs, and the yet-to-be proved success of national programmes to restore financial health to banks hit by the credit crisis. By Deirdre Fretz.
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