IBOR Transition Update and Legacy Contracts (Dec 20) II
John Ewan
20 years: Interest rate benchmarks
In this video, John briefs about the expectations of regulators to the end of 2021 and then explains what is happening between now and the end of 2021 for the LIBOR equivalents in other currencies.
In this video, John briefs about the expectations of regulators to the end of 2021 and then explains what is happening between now and the end of 2021 for the LIBOR equivalents in other currencies.
IBOR Transition Update and Legacy Contracts (Dec 20) II
9 mins 22 secs
The FCA has stated that the contribution banks have agreed to continue providing inputs until the end of 2021, but may not continue to do so. LIBOR exists only because a set of contributor banks agrees to contribute data on a daily basis. This is risky because, over the last decade, banks have been fined billions of dollars for exploiting or violating the benchmark submission process.
Key learning objectives:
Understand what regulators expect by the end of 2021
Describe the tough legacy contracts
Understand what is happening between now and the end of 2021 for the LIBOR equivalents in other currencies
John Ewan
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IBOR Transition Update and Legacy Contracts (Dec 20) I
In the previous 2 videos of this series, John and Keith explained what LIBOR is and why it exploded from being an obscure number published in London at 11am every day by a small trade association, to being a focus for central banks and regulators everywhere. In this video John talks about the timelines published by regulators and central banks, their expectations for market participants, and the differences between the game plans to replace IBOR rates in various major markets.
John Ewan • 12:51