From LIBOR to SOFR: Replacing the World's Most Important Number

Date: October 08, 2018

Time: 6:00-8:00 p.m.

Location: New York City Bar, 42 West 44th Street, New York, NY 10036

Event details

(from the New York City Bar website)

The world’s most important number may disappear by the end of 2021. For decades, LIBOR (the London Interbank Offered Rate) has been the reference interest rate for millions of financial contracts worldwide. Used in derivatives, business and consumer loans, bonds, and securitizations, LIBOR has been the bedrock of financial markets. However, following the 2007-2008 financial crisis, regulators began calling for the development of a more robust and reliable reference rate.

This program focuses on the upcoming transition from LIBOR to the Secured Overnight Financing Rate (SOFR), the alternative reference rate recently developed by the Alternative Reference Rates Committee (ARRC). A panel of distinguished experts will discuss the demise of LIBOR, the creation and implementation of SOFR, the differences between LIBOR and SOFR, and the latest developments in the paced transition process. Speakers will address important issues arising in key market constituencies, such as in swaps and derivatives, loans, bonds, and securitizations markets. The panel also will discuss best practices for contract robustness including addressing risks in existing contract language and developing appropriate contract provisions for use in future instruments.

Nixon Peabody partner Alexandra Margolis will be co-moderator of the panel.

For more information and to register, visit the New York City Bar website.

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