After 2021, the London Interbank Borrowing Rate (LIBOR), as well as other Interbank Overnight Borrowing Rates (IBOR), will cease to be published. The discontinuation of LIBOR will have a transformational impact on all areas of financial services organizations, potentially impacting earnings and cash flow if left unmanaged. Replacement rates are being worked out by various country-specific rate committees. In the U.S., the Alternative Reference Rate Committee (ARRC) has recommended the Secured Overnight Financing Rate (SOFR) as the replacement for LIBOR; although, this is not without its issues. Without more specific guidance from regulatory authorities yet, how should banks and other impacted firms approach and successfully navigate this enormous transition?Download our white paper to learn:• The implications of the LIBOR discontinuation.• The impacts of the transition on various key business functions.• A six-step framework to managing the transition smoothly.
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