5… 4… 3… 2… 1… The banking market remains in the last New Year’s Eve countdown to the cessation of 2 U.S. dollar Libor tenors, with the rest set to stop in 2023. On the current episode of the ABA Banking Journal Podcast — sponsored by ServiceLink — ABA’s Hu Benton supplies a status upgrade on the Libor shift and what lenders require to understand. Among other subjects, he talks about:
- Where banks remain in their rate shift procedures
- The newest declarations and expectations from regulators
- Libor options banks are utilizing or checking out, consisting of SOFR, BSBY and Ameribor
- Policy solutions for so-called “tough legacy” agreements — Libor-referencing agreements that develop after cessation however that cannot be customized to consist of fallback language
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This episode is sponsored by ServiceLink.
In this episode: