With hundreds of thousands of contracts around the world glued to the doomed LIBOR reference rate– and valued at an estimated $225 trillion – there’s a lot riding on counterparties revising contracts to ensure a smooth transition away from the long-used London Interbank Offered Rate, reports affiliate title Regulatory Capital Watch.
Take steps to prepare for LIBOR’s demise
There have been signs 'to be concerned that some firms are not taking [the LIBOR transition] seriously, are not taking the steps that they need to take and are not prepared, in which case, it could be bad'.
