LIBOR transition

The MBA Working Group (WG) on LIBOR Transition held its second online meeting on 4 April 2021. The WG group is a multidisciplinary committee, made up of senior officers from a Finance, Risk or Treasury background, and meets once a month to exchange best practice and ensure preparedness in relation to the forthcoming phasing out of the London Inter-Bank Offering Rate (LIBOR), by the end of 2021. Members identified key areas of discussion, such as credit adjustment spreads, fallback language for contracts, accounting and systems implications, and communication with clients, and took note of the international benchmarking work conducted by the MBA.