LIBOR Transition Part 1: Are you prepared for the LIBOR sunset?

External Speaker: Joy Saphla, President, Strategic Solutions, Morae

The sun is going down on LIBOR, with final phase out of the benchmark looming just 530 days away. 

As of January 1, 2022 the Financial Conduct Authority will no longer compel banks to quote LIBOR (and its variations) as a benchmark lending rate. The required transition is shaping up to be one of the most fundamental changes to the financial services industry in recent times. 

It is estimated that there are over $300 trillion of LIBOR-referencing mortgages, commercial loans, bonds and derivatives. The problem is global, complex and isn’t going away. Affected banks, insurers, and other financial market participants need to act quickly, and effectively, to resolve it. 

Adding to the complexity is confusion in the market due to challenges from the COVID-19 pandemic. While regulators are standing firm on the deadline, this is no reason organizations should expect to find themselves in the dark on what to do.

Our new LIBOR Transition series of webinars and podcasts will provide information on the key issues and considerations you need to know about. 

Please join Mayer Brown partner Paul Forrester and Joy Saphla, President, Strategic Solutions from Morae for the first webinar in this series where they will be discussing the broader landscape as well as sharing insight into the collaboration between Morae Global and Mayer Brown.

You can listen to the recording here >>
Running time: 19:31 minutes