By Andrew Ackerman and Dave Michaels 

WASHINGTON--U.S. regulators on Friday pressed banks to stop using the London interbank offered rate on new transactions by the end of 2021, warning that firms aren't moving swiftly enough to replace the benchmark for hundreds of trillions of dollars in financial contracts.

(More to come)

 

(END) Dow Jones Newswires

June 11, 2021 15:58 ET (19:58 GMT)

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