19 minutes | Dec 9th 2020

One Year Left in the Libor Endgame

The administrator of the London Interbank Offered Rate has made what was expected official: the widely used benchmark will cease publication, with certain Libor tenors ceasing as soon as the end of 2021. With the “Libor endgame” in its final stages, along with a welter of other Libor transition news in recent weeks, ABA VP and ARRC member Hu Benton joins the ABA Banking Journal Podcast to discuss: ICE Libor’s public consultation to cease publication of Libor tenors Supervisory expectations for how banks use Libor in the interim period before the rate ceases What regulators have said about banks’ use of alternative rates to the Secured Overnight Financing Rate, such as Ameribor or commercial paper The adoption of the ISDA protocol on fallback rates for derivatives The importance of educating clients about the Libor transition and what it means for them Resources from the Alternative Reference Rates Committee on SOFR adoption, contract fallbacks and other challenges Additional resources: Resources from the ARRC (contact Hu Benton at hbenton@aba.com to join a working group) ABA resources on reference rate transition
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