BBA to hand over administration of LIBOR to NYSE Euronext Rate Administration Limited

[Legal Beagles]

The British Bankers’ Association’s board has today voted unanimously to approve the transfer of the administration of LIBOR to NYSE Euronext Rates Administration Limited, the bidder recommended by the Hogg Tendering Advisory Committee. The BBA will hand over administration of the benchmark following FCA approval. The BBA will be engaging constructively with the new administrator over the coming months to ensure that there is a smooth transition ahead of the expected completion in early 2014.

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