Symposium on Benchmark Transition: Adopting Alternative RFRs, June 25 New York

ISDA Symposium® Benchmark Reform: Update on ISDA and Industry Initiatives

This half-day symposium will provide an update on benchmark reform efforts globally.  Since 2013, IOSCO and the FSB Official Sector Steering Group (OSSG) and public-private sector working groups in various jurisdictions have been working to reform major interest rate benchmarks, identify alternative rates and develop plans for adoption of those rates.  In parallel with these efforts, ISDA and others have been leading work to enhance contractual robustness of derivatives and other financial instruments by implementing clear and certain fallbacks that would apply if a key benchmark is permanently discontinued.  The importance of this work was amplified in July 2017 when the UK Financial Conduct Authority announced that it would not compel or persuade panel banks to submit to LIBOR after 2021, which called into question the future of LIBOR after that date.  This symposium will cover market, economic, operational and legal issues related to these topics.

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