In recent years the financial system’s regulators have worked towards discontinuing the existing reference rates for unsecured lending within the interbank market (IBOR, Interbank Offered Rate). Consequently, the important LIBOR (London Interbank Offered Rate) will most likely not be published anymore already by end of 2021.
That is why banks need to adapt their IT-systems towards a new interest-methodology to be able to offer lending being based on the new reference rates.
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