Wall Street Prepares for the End of a Crucial Benchmark

  • Reference rate’s phase-out still more than two years away
  • Yet firms already building out specialized transition teams
Steam rises as pedestrians cross a street near the New York Stock Exchange.Photographer: John Taggart/Bloomberg
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Libor is dying, warn global regulators, and there’s nothing banks can do to stop it.

Their only choice is to prepare for the end.