British watchdog says Libor's "final game" could be uncertain

LONDON (Reuters) – The "final game" for the Libor benchmark will be uncertain and regulators will seek to warn markets when they no longer believe the rate is reliable, said a senior official on Monday. of the UK market.

"It is now widely recognized that Libor will end," said Edwin Schooling-Latter, director of wholesale markets and policy at the Financial Conduct Authority. The banks were fined several million dollars for attempting to rig the landmark, replaced in Britain by the day-to-day Sonia rate from the Bank of England.

(Report by Huw Jones, edited by Toby Chopra)