Less than Half of Financial Services Firms Confident in Their Ability to Meet LIBOR Transition Deadline, Accenture Report Finds

NEW YORK; Sept. 16, 2019 – While most banks, insurers and capital markets firms have plans to transition away from the London Interbank Offered Rate (LIBOR) — which regulators are set to phase out at the end of 2021 — less than half (47%) are confident they have the necessary talent and capabilities to complete the transition by then, according to a new report from Accenture (NYSE: ACN).

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