A treasurer's checklist - February 2020
In July 2017, Andrew Bailey, Chief Executive, Financial Conduct Authority (FCA), announced that banks would no longer be compelled to submit data to the LIBOR benchmark administrator after 2021 so effectively announcing the end of LIBOR.
The objective of this Briefing Note is to provide a starting point for corporates who currently use a LIBOR as a reference rate and need to be prepared to move to alternate (RFR) benchmarks ahead of the 2021 deadline. It is structured as a checklist to assist corporate treasurers as they develop project plans for managing the transition. This Briefing Note is not a detailed description of the latest developments in the various markets impacted by LIBOR transition, as this is evolving very rapidly now.
The ACT LIBOR web page: treasurers.org/liborreform provides additional background information and is regularly updated with the latest developments including any newsletters or other communications from the various working groups and the regulators.
This Briefing Note has been drafted with extensive input from the members of the RFR Corporate Forum.
UPDATE: 10 March
For more useful links on LIBOR (as of 6 March 2020), visit treasurers.org/hub/blog/libor-transition-alternative-interest-rates
