October 10, 2019 / 12:18 AM / 11 days ago

BOJ Amamiya warns of Asian impact from LIBOR discontinuation

TOKYO, Oct 10 (Reuters) - Bank of Japan Deputy Governor Masayoshi Amamiya said on Thursday the planned discontinuation of LIBOR, a widely used benchmark for financial transactions, would have a significant impact on Asian markets.

“The permanent discontinuation of LIBOR would be one of the most significant events in global financial history, and the deadline is unavoidable,” Amamiya said in a speech in Tokyo on Asian capital markets.

“It is therefore important for us all to work together for our common interest - a smooth transition to alternative reference rates,” he said. (Reporting by Leika Kihara Editing by Chang-Ran Kim)

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