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.
PwC’s established global network of specialists deeply understands key LIBOR-impacted businesses such as:
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.
Global Head of FS Regulation, PwC United States
Tel: +1 (646) 471 5086
Partner, PwC Switzerland
Tel: + 41 (0)79 833 51 40
Financial Markets Practice Leader, PwC United States
Tel: +1 (646) 471 2669
Principal, Financial Markets, PwC United States
Tel: +1 (646) 471 7379