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 discontinued for Canadian dollars, Danish kronor and Swedish kronorOtherwise, the review mainly focuses on more substantial controversies concerning the merit and manipulation of Libor rates, which are the benchmark for hundreds of trillions of dollars of financial contracts.Libor rates will be discontinued for little used monthly intervals, while banks will have to ground their submissions to the Libor panels on justifiable data that will be subject to audit and (after a delay) to public view.The UK Treasury will seek a new operator of the Libor panels, with the British Banking Association retiring wounded, and, according to its many severe critics, disgraced.