Press release

LIBOR tendering process launched

This news article was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Organisations expressing an interest will be issued with a pre-tender questionnaire.

Today (26 February 2013) the tendering process to recommend the appointment of a new London Interbank Offered Rate (LIBOR) administrator was formally launched by the independent Hogg Tendering Advisory Committee for LIBOR, led by Baroness Hogg.

Expressions of interest from organisations who wish to participate in this process are invited from today (26 February 2013), and should be submitted to the Hogg Tendering Advisory Committee for LIBOR Secretariat at the following e-mail address: advisorycommitteeforLIBOR@hmtreasury.gsi.gov.uk

Organisations expressing an interest will be issued with a pre-tender questionnaire. The response to this questionnaire must be submitted to the Secretariat by 22 March 2013. Those organisations meeting the required standard in this questionnaire will be invited to tender.

It is anticipated an announcement as to the Committee’s recommendation will be made in the summer.

Notes for Editors

  1. Further details on the Wheatley Review of LIBOR

  2. The Wheatley Review of LIBOR final report (PDF 970KB)

  3. Government’s response to the Wheatley Review of LIBOR

  4. Chancellor’s statement on LIBOR, 2 July 2012

  5. The process will result in a recommendation by the Committee to the BBA. The BBA will enter into a contract with the new administrator.