Libor Reform: Market Impact Report
Since the FCA announced it wanted to phase out banks’ reliance on Libor in summer 2017, there’s been a lot of talk: and not much action.
Our team of reporters have spoken to banks, asset managers and industry groups to establish what has happened so far, what still needs to be done, and why progress has been so slow.
Libor Reform: Market Impact Report
Since the FCA announced it wanted to phase out banks’ reliance on Libor in summer 2017, there’s been a lot of talk: and not much action.
Our team of reporters have spoken to banks, asset managers and industry groups to establish what has happened so far, what still needs to be done, and why progress has been so slow.
Libor reform: cash markets brace for ‘inevitable’ imperfect hedges
The global transition from Libor to risk-free rates will disrupt both corporate and banks’ hedge accounting practices, with broken hedges inevitable, according to senior bank figures. While sources across markets agree that [...]
Libor fallbacks not yet referencing new rates
Despite new risk-free rates now being published in the UK and US, the market is yet to begin referencing them in contracts – even as a fallback. Some legacy bond documents contain vague references to an unspecified time [...]
Why no bank has done a Sonia-based loan
Banks claim that the commercial lending market is further behind other products in its post-Libor work because of a lack of client demand. Regulators have made it clear that [...]
Featuring Europe's key market participants
In-house Lawyers
Portfolio Managers
Industry Associations
Bankers
Libor reform: cash markets brace for ‘inevitable’ imperfect hedges
The global transition from Libor to risk-free rates will disrupt both corporate and banks’ hedge accounting practices, with broken hedges inevitable, according to senior bank figures. While sources across markets agree that [...] Complete the form to receive your report
Libor fallbacks not yet referencing new rates
Despite new risk-free rates now being published in the UK and US, the market is yet to begin referencing them in contracts – even as a fallback. Some legacy bond documents contain vague references to an unspecified time [...] Complete the form to receive your report
Why no bank has done a Sonia-based loan
Banks claim that the commercial lending market is further behind other products in its post-Libor work because of a lack of client demand. Regulators have made it clear that [...] Complete the form to receive your report
Featuring Europe's key market participants
In-house Lawyers
Portfolio Managers
Industry Associations
Bankers
About IFLR's Practice Insight
Practice Insight is Euromoney Institutional Investor's news service for lawyers, tracking how financial institutions are implementing Europe’s capital markets rules. Regulatory uncertainty now drives everything from liquidity, banks’ capital stacks and transaction reporting to the fundamental structure of the market. But with the scope for interpretation of rules so broad, financial institutions are finding it almost impossible to establish market consensus. Their legal advisors, meanwhile, are struggling to form a clear view on their client base’s current thinking.
Practice Insight has launched to ease this regulatory uncertainty. It provides clarity on how the market is interpreting regulatory actions within Europe’s capital markets. It does this by speaking to those on the inside. Our team of experienced reporters talks to banks, asset managers, exchanges and trading platforms about how they are complying – or failing to comply – with the raft of national, EU and global reforms. No one else in the market does this.
To find out more, visit www.iflrpracticeinsight.com
