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Understanding the transition from LIBOR to RFR

Understanding the transition from LIBOR to RFR

Currently, LIBOR underpins USD350 trillion worth of financial contracts. By the end of 2021, LIBOR will be replaced by new risk free rates as the benchmark rates.

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Understanding the transition from LIBOR to RFR

Currently, LIBOR underpins USD350 trillion worth of financial contracts. By the end of 2021, LIBOR will be replaced by new risk free rates as the benchmark rates. The magnitude alone means that banks, financial institutions and corporations must retool their employees and clients, rethink their strategies and review their infrastructure.  This marks one of the biggest structural changes in the financial world which will have major consequences for the functioning of banks, financial institutions and corporations with respect to financial risk management, regulatory and legal compliance, operations and accounting. In this thought leadership, we have examined the mechanics of the transition, its potential effect on banks, financial institutions and corporations and the way forward to pro-actively address the transition. 

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