The financial industry has used the London Interbank Offered Rate (LIBOR) as a benchmark interest rate for years, but its time is coming to an end in 2021. Investors and financial institutions are grappling with what they need to do in order to prepare. Some have created internal working groups to discuss the changes and figure out what needs to be done, while other firms are finally coming to terms with the reality that LIBOR as we now know it is coming to an end. Regardless of what steps you and your firm have taken – or not taken, there are actions you can take now to ensure your credits continue to accrue interest as intended.
- Assess your current portfolio
- Discuss your options
- Be smart about reference rate language in new transactions
- Stay current on market trends
- Don’t panic, prepare
To read the full white paper, which includes topics including, How We Got Here, Finding a Replacement, and How to Assess your Portfolio and Prepare, please complete the form below.