"Zombie" LIBOR for USD Contracts: Navigating the Critical Issues
Paul Noring and Les Jacobowitz (Arent Fox) provided an in-depth analysis of the critical issues surrounding the London Interbank Offered Rate (LIBOR). The Knowledge Group hosted this live CLE webcast.
The scheduled phase-out of LIBOR is posing significant transition challenges for banks and concerned individuals. Further, in December 2020, ICE Benchmark Administration (IBA) announced the extension of US dollar (USD) LIBOR through June 2023, creating a change in the LIBOR transition process and opening more ambiguities in managing USD contracts.
Topics of the webinar included:
- An overview of USD LIBOR
- Recent trends and developments
- LIBOR indices set to transition by year-end 2021
- US regulator on no new LIBOR contracts after 2021
- Ramifications of ISDA Protocol’s immediate implementation
- New USD LIBOR transition timeline
- Red flags
- Practical tips and best practices
- What lies ahead