01 October 2012 7:09am

Lenders will cease to have access to the Australian London interbank offered rate as a pricing reference if regulatory proposals for Libor reform are adopted.

Use of the A$ Libor rate to reference borrowing contracts is already slight.

The New Zealand dollar Libor rate will also be culled, though the use of the NZ$ reference rate may be next to non-existent.

A review by Martin Wheatley, a senior official of the Financial Services Authority in the UK, also proposes that Libor panels be...