Ron, wish you were correct but I do not think you are as the LIBOR-8 suite we are concerned with is the one involving around 20 banks and I will include a snippet from our Libor specialist from the other board, Hold.
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As for the timeline, its hard to tell. I've discussed this point privately in great details with Dmdmd1 but to recap; There is a chance LIBOR-8 could be wrapped by end of this year as FDIC projected in their UK filing. It could also drag in to early next year but it won't be more many years as some of the naysayers believe. We're looking at few weeks to few months, of course this is my intellectual reading based on FDIC court filings, actions and used languages so there could be some errors on my part.
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