USD LIBOR: What changes after 30 June 2023?
The critical milestone in the transition away from USD LIBOR to Risk Free Rates (RFRs) is almost here.
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.
Latest updates
IBOR, fall-backs and their impact on businesses
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.
All you need to know
Requirements & guidance
- IBOR Client Reach Out Letter – March 2021
- IBOR Security Holder FAQs – April 2023
- Term RFRs – Client Communication – April 2022
- Expectations and requirements on new USD LIBOR trades after 31 December 2021 – End 2021
- IBOR Client Reach Out Letter: Unremediated Derivative Transactions – 2020
- IBOR Reform FAQ-2020
- Whitepaper on IBOR-2019
For useful industry & working groups regarding LIBOR, please refer to the links below:
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