At one time not that long ago, you could find Libor in everything: mortgages, corporate loans, credits cards and more. Now, its days are numbered. The FT’s Harriet Clarfelt and Philip Stafford take us back to the 1980s origins of the scandal-ridden benchmark rate, how its reputation came apart and why, with just weeks to go before a June 30 deadline, one part of the financial world is still racing to leave it behind.
