COVID-19 and LIBOR Transition: Taking a Market-Led Approach
By Navin Rauniar
A featured article of our July 2020 edition of PRMIA's Intelligent Risk quarterly newsletter
The ongoing COVID-19 pandemic has caused severe market volatility globally. Despite this volatility, the US Federal Reserve, Bank of England (BoE), and the Financial Stability Board (FSB) have reiterated their stance on firms not relying on LIBOR post December 31, 2021. This article examines regulatory pronouncements regarding COVID-19 impacts on LIBOR transition plans and recommends how financial institutions must continue LIBOR project execution, in parallel with their business-as-usual activities.
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