LIBOR and reference rate reform

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Regulators and industry bodies have proposed and agreed on new interest rate benchmarks to replace LIBOR rates that are anticipated to no longer be published or supported past the end of 2021. These new Risk Free Rates will be broad reaching across all industries that use or invest in interest rate linked products, and affect a comprehensive set of financial instruments including fixed income securities, loans, and derivatives.

The transition to these new rates will require significant efforts by institutions to address the impacts on business activities, client interactions, control processes, systems, risk management and financial performance.  Organisations must begin now to prepare for and manage the transition.

LIBOR and Reference Rate Reform: Why you need to act now

Adam Gilbert, Global Head of FS Regulation at PwC, discusses the importance and urgency around companies preparing now for the transition away from LIBOR.

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PwC’s established global network of specialists deeply understands key LIBOR-impacted businesses such as:

  • Capital Markets
  • Commercial Lending
  • Retail Banking and Wealth Management
  • Investment Management
  • Insurance
  • Market Infrastructure
  • Corporate Treasury

We work with you to provide support across the entire lifecycle of the transition, beginning with mobilization and governance, impact assessment, definition of remediation work streams, contract management and remediation, client outreach, systems & process changes, risk and valuation model changes, and managing related tax & accounting implications.

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Contact us

Adam Gilbert

Global Head of FS Regulation, PwC United States

Tel: +1 (646) 471 5086

Christian Schmitt

Partner, PwC Switzerland

Tel: + 41 (0)79 833 51 40

Frank Serravalli

Financial Markets Practice Leader, PwC United States

Tel: +1 (646) 471 2669

Justin Keane

Principal, Financial Markets, PwC United States

Tel: +1 (646) 471 7379

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