LIBOR interest rates are scheduled to be replaced by 31st December 2021 and, despite the impact of COVID-19, global regulators have confirmed that the cessation date will not be postponed. LIBOR is a US$300 trillion-dollar problem for banks, brokers, wealth managers, investment managers, corporate treasurers, and other end-users (including many retail borrowers). Regulators are stepping up the pressure on financial institutions to ensure that not only are they prepared to move away from LIBOR-referencing products to products referencing Alternative Reference Rates, but that they are also engaging and working with their clients to help support them through the transition process.
Evolution Partners is currently supporting a major global financial services institution prepare for LIBOR Transition. To find out how we can help your business, please get in touch.