Libor Reform Poll

Our 12-page special report on Libor reform and the future of benchmarks finds a market unprepared and in disarray. Litigation appears inevitable.

 

How banks are managing the transition period & minimising disputes.

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Libor Reform Poll

Our 12-page special report on Libor reform and the future of benchmarks finds a market unprepared and in disarray. Litigation appears inevitable.


Over 70% of respondents foresee disputes over attempts to change an existing contract's benchmark at a later date due to Libor changes.

What's inside

Special report - Part 1:

Transition period

Answering questions on legacy contracts and the work so far, almost all respondents are unprepared for the transition and are simply waiting for others to make the first move [...]

 

Special report - Part 2:

Libor's future

Fragmentation is expected in terms of both regions and products. With a clear economic gain or loss to be made, disputes are also highly likely [...]

Special report - Part 3:

The future of benchmarks

Part three looks to a fragmented future, either with or without Libor. Discussing replacement rates, there’s consensus on an underlying transaction basis and division on counterparty credit risk [...]

 

Special report - Part 4:

The administrator's view: ICE interview

Tim Bowler, CEO of the ICE's benchmarks arm, administrator of Libor since 2014, tells Practice Insight why the entire banking industry's cooperation is needed to keep the world’s most famous number alive [...]


Featuring

Global financial institutions

Invaluable feedback from investment banks and industry associations worldwide

Europe's key market participants

In-house lawyers, traders, regulatory strategists and market structurers give their view

  • Exclusive interview with ICE benchmarks CEO
  • Potential Libor replacement rates & their merits (such as Sonia and SOFR)
  • Managing the transition period & minimising disputes
  • Views on the Benchmarks Regulation

What's inside

Special report - Part 1:

Transition period

Answering questions on legacy contracts and the work so far, almost all respondents are unprepared for the transition and are simply waiting for others to make the first move [...] Complete the form to receive your report


Special report - Part 2:

Libor's future

Fragmentation is expected in terms of both regions and products. With a clear economic gain or loss to be made, disputes are also highly likely [...] Complete the form to receive your report

Special report - Part 3:

The future of benchmarks

Part three looks to a fragmented future, either with or without Libor. Discussing replacement rates, there’s consensus on an underlying transaction basis and division on counterparty credit risk [...] Complete the form to receive your report



Special report - Part 4:

The administrator's view: ICE interview

Tim Bowler, CEO of the ICE's benchmarks arm, administrator of Libor since 2014, tells Practice Insight why the entire banking industry's cooperation is needed to keep the world’s most famous number alive [...] Complete the form to receive your report


Featuring

Global financial institutions

Invaluable feedback from investment banks and industry associations worldwide

Europe's key market participants

In-house lawyers, traders, regulatory strategists and market structurers give their view

  • Exclusive interview with ICE benchmarks CEO
  • Potential Libor replacement rates & their merits (such as Sonia and SOFR)
  • How the market is adapting now in documentation & pricing
  • Views on the Benchmarks Regulation

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