5 November 2019
The Finance House Base Rate (FHBR) will cease to exist after 31 December 2019
The European Union’s Benchmarks Regulation requires benchmark administrators located in the EU to be authorised by their national regulator. As it would not be practicable for the FLA to become an authorised benchmark administrator, the FLA’s Board has agreed that the FHBR will cease to exist after 31 December 2019.
- The Finance & Leasing Association is the leading trade body for the asset, consumer and motor finance sectors in the UK.
- In 2018, members of the Finance & Leasing Association (FLA) provided £137 billion of new finance to UK businesses and households, £45.8 billion of which helped consumers and businesses buy new and used cars, including over 91% of private new car registrations.
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