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Written Question
LIBOR: SONIA
Thursday 29th April 2021

Asked by: Baroness Noakes (Conservative - Life peer)

Question to the HM Treasury:

To ask Her Majesty's Government what is their response to the letter dated 21 April from the Chairman of the Working Group on Sterling Risk-Free Reference Rates to the Economic Secretary to the Treasury in respect of safe harbour provisions to support the wind-down of LIBOR and the transition to SONIA.

Answered by Lord Agnew of Oulton

The Government will respond to the letter from the Chair of the Working Group on Sterling Risk-Free Reference Rates in due course.

The Government has committed to updating the House as appropriate on the outcome of the February consultation on supporting the wind-down of critical benchmarks.