Latest Details on the LIBOR Transition and Interest Rate Reform
As LIBOR is phased out, reference rate reform will identify new and alternative reference index rates for financial instruments, including the Secured Overnight Financing Rate (SOFR).
The GTreasury Blog
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A Voice for Corporates: The AFP LIBOR Task Force
David Bowman with the Federal Reserve Board has asked the Association for Finance Professionals (AFP) to be the voice of Corporate Treasury in terms of addressing LIBOR for the Alternative Reference Rates Committee (ARRC) as part of the Coordination Subgroup.
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FASB Approves Finalization of LIBOR Transition Guidance
As you know, the LIBOR transition topic is evolving on an almost daily basis. Earlier this week, the FASB approved the finalization of guidance to assist entities with the transition away from LIBOR. The new Accounting Standards Update (ASU), which is expected to be issued in early 2020, will include optional expedients and exceptions to accounting guidance.
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Interest Rate Reform and Implications on Foreign Currency Derivatives
What’s the Issue? Britain is ending support of the London Interbank Offered Rate (LIBOR) on or about 2021. US regulators currently plan to replace LIBOR with the Secured Overnight Financing Rate (SOFR) curve. The pending “Illiquid LIBOR Market” and related lack of transparency will render valuations of LIBOR priced instruments troublesome.
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November 2019 Update: Your LIBOR Questions Answered
LIBOR has been referred to as the plumbing buried in many financial contracts, and the end of LIBOR will cause a seismic shift in the financial markets.