Policymakers around the world have determined that London Interbank Offering Rates (LIBORs) and LIBOR-derived benchmarks are no longer fit for purpose as they don’t reflect market financing practices.
Global IBOR transition is underway to reduce reliance on key interbank offer rates. With set cessation timelines in place for LIBORs, they can no longer be relied upon by market participants after 31 December 2021. Existing and new contracts must transition to alternative rates, most notably new risk-free rates (RFRs), which comply with new international standards for benchmarks. BNP Paribas’ dedicated regulatory team is able to support clients navigate this new landscape and support them transition to RFR’s.
All you need to know
For useful industry & working groups regarding LIBOR, please refer to the links below:
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