If you use Hedge Trackers’ Outsourcing and/or Software suite (Capella) services, you might be wondering what’s going to happen when interest rate reform occurs and SOFR replaces LIBOR in early 2021.
As a follow up to FASB’s June initiative to provide accounting relief to organizations that will need to modify their contracts as LIBOR is replaced by SOFR, FASB released a proposed Accounting Standards Update on Thursday.
As the London Inter-bank Offered Rate (LIBOR) begins to phase out, many corporate treasurers have been flooded by a wave of uncertainty. Our advice has been to proactively start planning alternatives by looking out for the guidance and term structures released by accounting regulatory bodies.
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.
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 […]