Wow- LIBOR will be phased out by 2021.
LIBOR was the number. The most important number that set pricing of trillions of dollars.
It had many flaws but it was a good number for some time. Until we had more transparent and reliable measures of interest rate.
It will be interesting to see what interest rate measures the US and UK develop.
Also, I expect lot of shocks to happen when the transition occurs. I guess that would be a boon to research. Interesting times ahead-