At this point, LIBOR’s phasing out by Britain’s Financial Conduct Authority (FCA) may be old news. Although the topic has been a constant presence in headlines, there’s still lingering questions about what this means and what organizations should do in its wake.
In August 2017, the Financial Accounting Standards Board released ASU No. 2017-12, accounting guidance designed to better align a hedge program with an organization’s risk management objectives as reflected on financial statements. While the goal of these changes was to make hedging a more attractive option for corporations and financial institutions, stakeholders have brought up […]
Reuters – “Canadian, Brazilian oil producers lock in revenues as prices rally: sources”
The uncertainty of Brexit accompanied by the phasing out of LIBOR has turned the financial services industry in Europe on its head. As organizations take precautions amidst the uncertainty, it has become evident that the number one financial hub in the world has begun to fall from its pedestal. Until concrete decisions are finalized, the […]
Bloomberg Tax – “LIBOR’S Looming End Leaves Hedgers, Lenders in a Bind” Nicola M. White, Reporter “This is really so pervasive, it’s going to affect literally every company out there,’ said Ernie de Lachica, senior director at BDO USA LLP. Any business that has a loan likely has an interest rate tied to LIBOR, and banks making […]