IBOR reform – Phase 2 amendments
Targeted accounting relief for banks and corporates
Targeted accounting relief for banks and corporates
Many companies use benchmark interest rates – e.g. in their loan instruments, lease contracts and in hedge accounting. The replacement of some of these rates with alternative benchmark rates is expected to be mostly completed by the end of 2021.
In this podcast, Colin Martin and Stewart Hagell discuss the targeted accounting relief that has been made available to ease adoption of the new benchmark rates for banks and corporates.
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“All listeners – corporates or banks – should make sure they read and understand the Phase 2 amendments. They’ve been crafted very, very carefully and they are there to help make the transition easier." Colin Martin, "For a corporate, whilst you are often in a position of being a market taker, I’d recommend being proactive in understanding what your potential exposures are to IBOR reform, and approaching the banks and lenders to discuss the benchmark changes as soon as possible.” Stewart Hagell |
Read our web article for a more detailed overview of the Phase 2 final amendments.
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