CLE Event (March 2018) - LIBOR Phase-Out
Thursday, March 1, 2018 - 5:00pm to 6:00pm
CLE Webinar Presentation
Thursday, March 1, 2018
4:00 - 5:00 P.M. (Eastern)
An historical perspective of LIBOR manipulation and the development of alternative reference rates; the impact on floating rate obligations and derivatives, and a roadmap for transition.
In July 2017 the UK's Financial Conduct Authority announced that it would stop requiring panel banks to quote LIBOR (London Interbank Offered Rate) by the end of 2021. Concurrently, the development of new benchmark rates to replace LIBOR is underway. However, much uncertainty still exists regarding the calculation of newly proposed benchmark rates and the transition away from LIBOR.
Our panel will provide an historical perspective of LIBOR manipulation and the necessity to adopt more robust transactional based benchmark rates; discuss the characteristics of newly proposed replacement benchmark rates, and the need to determine an economic equivalency between those new rates and LIBOR, and then provide a prospective roadmap for managing the transition of new and legacy LIBOR referenced obligations and derivatives to a new benchmark rate.