LIBOR Fallback Rate Curves for Any LIBOR Cessation Currencies

The FSB recommends to replace IBOR with alternative risk-free reference rates (RFRs). It also develops fallback rates to improve contract robustness to address risks of discontinuation of widely used interest rate benchmarks. The continued reliance of global financial markets on LIBOR poses risks to financial stability. There was a common view across FSB member jurisdictions that overnight RFR should be encouraged across the markets and that contracts referencing IBORs should have robust fallbacks