LIBOR and reference rate reform

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The clock is ticking toward 2021 and the end of LIBOR – will you be ready?

A tremendous shift across financial markets is taking place. The London Interbank Offered Rate (LIBOR) is being replaced. Currently the benchmark for over US$350 trillion in financial contracts worldwide, the impact of the transition from LIBOR will be far-reaching for financial services firms, businesses and customers alike. Given the scope of the impact, planning for this transition must start now and begin with a comprehensive strategy.

Key impacted businesses and functions include capital markets, commercial lending, retail banking and wealth management, investment management, insurance, market infrastructure and corporate treasury.

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Opportunities emerge

As firms start to address the impact of LIBOR transition across their organization, opportunities become apparent:

  • To create new and differentiated products
  • To improve customer experiences and increase customer loyalty
  • To standardize and improve processes
  • To make internal improvements in agility, collaboration and decision making
  • To tackle “while you’re at it” projects

How PwC can help

The transition from LIBOR is market, not regulator driven and institutions and territories are preparing at different rates. PwC’s LIBOR and reference rate reform specialists in territories throughout the globe can help you assess, prepare for, and execute on the transition. We work with you across the entire lifecycle of the transition, including:

  • Program mobilization and governance
  • Impact assessment and transition planning
  • Contract management and remediation
  • Client & customer outreach and communications
  • Systems & process changes
  • Risk and valuation model changes
  • Managing related tax & accounting implications

LIBOR at a glance

To discuss the latest market & industry developments in your territory or industry, and how LIBOR transition will impact your business.

Contact your LIBOR transition specialist
 

Podcasts

By 2022, LIBOR will be discontinued, which could mean big changes for companies. To help manage the transition, Heather Horn is joined by PwC partners Brian Staniszewski and Nick Milone to discuss the key accounting and financial reporting considerations when LIBOR is phased out. 

Webcasts

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After LIBOR: What’s next for companies?

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Operational readiness during the LIBOR transition
 

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From LIBOR to SOFR and the immediate considerations for the months ahead 
 

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LIBOR's End: How insurance companies can prepare for new reference rates 
 

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LIBOR’s End: An opportunity for asset management emerges.
 

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LIBOR No More! Are you ready? 
 

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Contact us

John  Garvey

John Garvey

Global Financial Services Leader, PwC United States

Tel: +1 646 471 2422

John Oliver

John Oliver

Partner, PwC United States

Tel: +1 (202) 262 1132

Andrew Gray

Andrew Gray

Partner, PwC United Kingdom

Tel: +44 (0)7753 928494

Dirk Stemmer

Dirk Stemmer

Partner, Financial Services, Risk Consulting, PwC Germany

Tel: +49 211 981-4264

Sergey Volkov

Sergey Volkov

Partner, PwC Japan

Tel: +81 (0) 90 9850 6016

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