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LIBOR, the benchmark rate for which there is currently over $200 trillion in USD LIBOR outstanding exposure alone, will cease to be published after mid-2023, with the majority of tenors being discontinued by December 31, 2021. Our Team is focused on monitoring the ever-changing landscape and advising clients on the impact associated with LIBOR cessation.

Additional Insights

As the deadline for LIBOR’s discontinuation approaches, regulators and working groups have pressed market participants to prepare for the transition to alternative benchmarks. Several regulators have expressly identified transition preparedness an examination priority and have published relevant guidelines and considerations. Industry working groups have developed templates and best practices to implement a benchmark transition. We have continually monitored these developments. We invite you to review our publications and videos addressing these issues.

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