IBOR transition – a certainty not a choice

Presented by

Scott O’Malia, ISDA, Ian Fox, Lloyds Banking Group, and Shankar Mukherjee, EY

About this talk

After more than 40 years of relying on Interbank Offered Rates (IBOR) as a reference rate for more than $350 trillion in contracts across a range of financial products, the industry is preparing for a discontinuation of IBOR by 2021. The transition away from IBOR is a certainty, and will be significant for all market participants. The pace of the transition is rapidly accelerating with considerable developments in fallback language, selection of alternate reference rates (ARR), and increasing liquidity in derivatives and cash markets linked to the new ARR. The webinar will focus on the key market developments, transition timelines, market adoption and liquidity, term rates, and operational readiness. The panellists will discuss the pace of progress, leading practices, and key transition challenges. The panel will be moderated by Roy Choudhury, Principal, Global IBOR Leader, EY. Panellists include: ➢Scott O’Malia, CEO, ISDA ➢Ian Fox, Group Funding and Liquidity Management Director, Lloyds Banking Group ➢Shankar Mukherjee, UK IBOR Leader, EY Topics for discussion include: ➢Lessons learned from the “Dear CEO Letter” submissions and supervisory expectations ➢What is going to drive the adoption of ARR in the markets ➢Developing fallbacks for LIBOR and other key IBORs ➢What organizations can do to make the transition path easier and what they should focus on now For more information please visit ey.com/ibor.

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