TOKYO (Reuters) - Bank of Japan Deputy Governor Masayoshi Amamiya said on Thursday the planned discontinuation of LIBOR, a widely used benchmark for financial transactions, would have a significant impact on Asian markets.
"The permanent discontinuation of LIBOR would be one of the most significant events in global financial history, and the deadline is unavoidable," Amamiya said in a speech in Tokyo on Asian capital markets.
"It is therefore important for us all to work together for our common interest - a smooth transition to alternative reference rates," he said.