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ABA Banking Journal Podcast

Dec 9, 2020

The administrator of the London Interbank Offered Rate has made what was expected official: the widely used benchmark will cease publication, with certain Libor tenors ceasing as soon as the end of 2021. With the “Libor endgame” in its final stages, along with a welter of other Libor transition news in recent weeks, ABA VP and ARRC member Hu Benton joins the ABA Banking Journal Podcast to discuss:

  • ICE Libor’s public consultation to cease publication of Libor tenors
  • Supervisory expectations for how banks use Libor in the interim period before the rate ceases
  • What regulators have said about banks’ use of alternative rates to the Secured Overnight Financing Rate, such as Ameribor or commercial paper
  • The adoption of the ISDA protocol on fallback rates for derivatives
  • The importance of educating clients about the Libor transition and what it means for them
  • Resources from the Alternative Reference Rates Committee on SOFR adoption, contract fallbacks and other challenges

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