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Items tagged with "IBOR"

Gary Gensler on LIBOR and the emperor’s new clothes

We enjoyed some remarks this week by Gary Gensler, Chair of the US Securities and Exchange Commission – perhaps offering the ‘naked truth’ about LIBOR transition risks.

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Time to complete transition with LIBOR end dates in sight

The UK’s Financial Conduct Authority (FCA) has announced the dates when panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available. This is an important step towards the end of LIBOR and the transition away from discredited interest rate benchmarks of this type, and provides valuable certainty.

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Let there be harmony! The way ahead for Asia-Pacific IBOR Transition

In a recent report, ‘ASIFMA IBOR Transition Readiness Survey Results and Action Plan,’ the Asia Securities Industry and Financial Markets Association (ASIFMA) and international law firm Ashurst have highlighted areas for concern and next steps as the Asia-Pacific financial industry navigates the final stages of the IBOR (Interbank Offered Rates) transition.

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IFRS Taxonomy updated for IBOR Amendments

Late last year, following an accelerated amendment process, the International Accounting Standards Board (IASB) issued a package of amendments to the IFRS Standards designed to help ease the ongoing Inter-Bank Offered Rates (IBOR) transition. The amendments should ensure that investors and regulators have sufficient, useful information about the effects of the reform on entities.

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IASB completes IBOR Amendments

The International Accounting Standards Board (IASB) has finalised its response to on-going Inter-Bank Offered Rates (IBOR) reform by issuing a package of amendments to the IFRS Standards.

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FSB emphasise 2021 deadline for IBOR reform

The Financial Stability Board (FSB) has issued a statement emphasising the need to transition to LIBOR alternatives by the end of 2021, despite Covid-19 setbacks.

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IFRS Standards Amended in Response to IBOR Reform

The International Accounting Standards Board (IASB) has published proposed changes to IFRS financial instruments standards IAS 39 and IFRS 9 that will allow hedge accounting to continue during the current reforms of interest rate benchmarks such as interbank offer rates (IBORs). After a series of scandals, the once-dominant LIBOR benchmark is being abandoned in favour […]

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