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Calling all companies

How will you be impacted by interest rate reforms?

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Plans to move away from the London Interbank Offered Rate (LIBOR), and other IBORs, will bring significant challenges for all companies with exposures to these rates, not just banks.

In this podcast, Colin Martin, May Tiem Gillen and Sarah Kindzerske take a wider look at why the reforms have been proposed, what they are and why they are so important for all companies globally.

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“Make no mistake, whatever the exact timings are going to be, these changes look inevitable… So a key question for any company has to be, ‘What can we do today to make sure we have no regrets tomorrow?’.”

Colin Martin Partner, KPMG in the UK

“What’s happening here is definitely not just a niche concern for banks. IBORs are embedded in a range of risk and finance processes – such as treasury management, risk and valuation calculations. And they are all expected to cease to exist by 2022…”

May Tiem Gillen Director, Banking Accounting Advisory Services, KPMG in the UK

“Hedge accounting is a small sliver of the scale of the impact and corporates and banks alike need to start thinking about how IBOR reform impacts them.”

Sarah Kindzerske Senior Manager, KPMG International Standards Group

Check out our summary PDF (PDF 103 KB) for an overview of the key activities that could help you achieve a smoother transition to ‘risk-free rates’ (RFRs). A full transcript (PDF 511 KB) of this podcast is also available.

Visit our IFRS Today landing page to view other episodes in this series – and for more insights on this topic, take a look at our IBOR reform and IFRS web page.

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