Overview

In 2012, the LIBOR scandal came to light as a group of banks were accused of manipulating their LIBOR submission. An attempt to manipulate LIBOR can have significant adverse effects on consumers and financial markets.

Global financial regulators have signalled that LIBOR and other “IBOR” benchmarks will likely cease to trade at the end of 2021. Globally, IBOR-related products have an estimated value exceeding US$350 trillion notional and include derivatives, loans, syndicated loans, FRNs, bonds, and retail-linked financing. The transition will be one of the biggest ever experienced in financial markets with wide-ranging impacts and systemic risk potential.

Objective

By the end of the course, participants will:
‧ Explain why regulators wish to see IBOR rates transitioned to risk-free rates
‧ List the implementation process and foreseeable financial market impacts
‧ Explain what firms are doing to prepare for the transition

Content

1. Background – IBOR transition drivers.
2. Impacted financial products and markets
3. Transition timeline
4. Implementation mechanics
5. What financial markets may look like in 2022.

Who should attend

Financial services practitioners involved in the buy-side and sell-side, as well as corporate treasurers.