In the world of finance, there is one number that arguably matters more than any other. You can find it in the small print on adjustable-rate mortgages and private student loans, it is the basis for enormous corporate loans, and it underpins nearly $200 trillion of derivatives contracts. It’s called LIBOR
Now, regulators are stressing that the benchmark could be gone by 2021.
What will replace it? Nobody knows for sure.
Here’s an interesting read
If you want to know more about LIBOR, it’s rise and fall and sordid history that undid it then this podcast is highly recommended