ISDA, IMA and the International Capital Markets Association (ICMA) have sent comments to the Wheatley review of LIBOR. They all welcome proposals for stronger governance of rate-setting, but discourage a forced transition from LIBOR to other benchmarks. This would affect contracts and cause market turmoil. (Source: ISDA Response to Wheatley Review, IMA Response to Wheatley Review and ICMA Response to Wheatley Review)
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Industry warns against transition to other benchmarks
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