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libor transition report facing into the end game

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    Events of the past few months have provided greater clarity around the end-game for LIBOR. However, with only six months to go until non-USD LIBOR settings cease to be published or become non-representative, many questions remain unanswered and market participants still have much to do. The operational, conduct and regulatory risks associated with meeting the challenge are considerable.

    Co-authored by Ashurst's Legal and Risk Advisory team, LIBOR Transition: Facing Into the End-Game provides an overview of recent LIBOR-related developments and examines some of the key transition risks and challenges facing market participants during the critical months ahead.

    Key topics explored include:

    1. Extended publication of key USD LIBOR settings until June 2023: what it means (and does not mean) for SOFR transition efforts and USD LIBOR-linked benchmarks
    2. Key transition tasks associated with non-dollar LIBOR transition at end-2021, including preparing for CCP conversion events, operationalising fallbacks and managing dislocation of fallback terms across instruments and currencies
    3. Dealing with 'tough legacy' exposures: legislative changes in the US to support USD LIBOR transition and recent FCA consultations around the terms and applicability of Synthetic LIBOR 
    4. Other non-LIBOR benchmark-related work that may impact end-2021 transition, including EONIA transition and adoption of the 2021 ISDA Interest Rate Derivatives Definitions
    5. The challenge of conduct risk mitigation and the risks of getting it wrong

    To read more, download a copy of our report.


    The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to.
    Readers should take legal advice before applying it to specific issues or transactions.


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