Key questions in Libor transition – Q&A with Tom Wipf

The Libor transition is at a crucial stage, with key industry announcements at the end of 2020 and developments in the US political arena offering greater certainty over timelines and the likely road ahead for alternative rates.

In this audiocast, Navin Raunier, partner for risk advisory at consultants TCS discusses recent developments in Libor transition with Tom Wipf, vice-chair of the institutional securities business at Morgan Stanley, and chair of the Federal Reserve Board’s Alternative Reference Rates Committee (ARRC).

The conversation covers:

01:53 – Whether the delay to USD Libor transition offers breathing space for firms’ implementation timelines

09:00 – ARRC efforts in providing guidance on downstream impacts, operations and infrastructure

10:53 – Overcoming industry concerns around the Isda fallback protocol and non-linear products

15:20 – Regulatory requirements and data management

17:50 – Developments in term rates and timelines for the term secured overnight financing rate (SOFR)

20:52 – Industry concerns around overnight risk-free rates (RFRs)

25:18 – How developments in Ameribor may affect the success of SOFR

29:42 – The outlook for alternative rates under a Democrat administration, including legacy contracts, synthetic US dollar Libor, alternative RFRs and credit-sensitive rates

This audiocast was recorded on January13,  2021

 

Learn more about the Libor transition challenges for financial services firms

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