ACT webinar: LIBOR transition - next steps for treasurers 2018

6 December 2018
 "Ensuring that the transition from LIBOR to alternative interest rate benchmarks is orderly will contribute to financial stability. Misplaced confidence in LIBOR's survival will do the opposite, by discouraging transition".  

In July 2017 the FCA’s Andrew Bailey signalled in a keynote speech that the FCA would no longer compel LIBOR panel banks to make contributions beyond 2021 and later further underlined this with the strong message quoted above. The arguably most important number in finance, underpinning financial contracts worth trillions of pounds, is going away. And financial markets aren’t prepared. In this webinar, we’ll share the latest thinking on the changes including transition planning, adoption of RFR’s and development of new Term RFR’s.

 

Get answers to three key questions treasurers are asking.

1. What is happening?

  • A look ahead to key dates and recent market events for LIBOR transition
  • An overview of alternative benchmarks, recent usage of these in the bond markets and the creation of Term RFR’s
  • Practical characteristics of the RFR markets

2. What are the risks?

  • Time, resources and planning required for a successful transition from legacy LIBOR referencing products and contracts.
  • Practical issues that need to be considered, e.g. the ability for firms to use new benchmarks (some of which will be overnight compounding rates)

3. What will it mean for treasurers?

Key considerations and action points for corporate treasurers, including:

  • (Re)pricing, documentation and administration of legacy transactions
  • Specific implications for syndicated loans and bonds
  • Application of fallback language to derivative contracts
  • Issuing under new benchmarks
  • How to stay updated and get involved in LIBOR working groups

 

Webinar speakers

Sarah Boyce
Associate Director, Policy and Technical
ACT
Frances Hinden
VP, Treasury Operations
Shell
Steve Bullock
Head of Benchmark Submission & Supervision
Lloyds Bank
Sharn Hawkins
Manager, Senior Funding & Covered Bonds
Lloyds Bank

 

Recording

If you missed out on the live streaming of this webinar, then watch the recording below to catch up.

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