A senior regulator will describe progress on IBOR transition in the region and set out regulatory expectations in 2021.

It now seems certain that all euro, sterling, Swiss franc and yen LIBOR settings and one-week and two-month US dollar LIBOR will cease after the end of 2021, with the remaining US dollar settings ending in mid-2023. What does this mean for transition of legacy LIBOR exposures and execution of new transactions in Asia-Pacific, and how will cessation play out in practice? What approach will the clearing houses take following a cessation announcement?

Moderator: Ann M. Battle, Assistant General Counsel, Head of Benchmark Reform, ISDA
Christophe Mayol, Head, Derivatives Strategies, AIA Investment Management Private Limited
Andrew Ng, ISDA Board Member, Group Executive, Head of Treasury and Markets, DBS Bank
Alvin Teo, Deputy Director, Monetary & Domestic Markets Management Department, Monetary Authority of Singapore
Paul Wylie, Head of Risk Asia-Pacific, LCH

How are central banks and regulators in Asia-Pacific responding to LIBOR transition and what progress has been made to transition local benchmarks linked to US dollar LIBOR? This panel will feature speakers from across the region, who will set out the steps Asia-Pacific authorities, administrators and national risk-free rate working groups are taking.

Moderator: Jing Gu, Head of Legal, Asia Pacific, ISDA
Penluk Lothuvachai, Deputy Director, Financial Markets Department, Bank of Thailand
Johnson L. Sia, Chairman of the BAP OMC Benchmark Committee and Head of Financial Markets - Philippines, ING Bank N.V.

What challenges does LIBOR cessation pose for use of cross-currency swaps in the region, and how is the industry responding? Will both legs of the trade ultimately shift to risk-free rates? How will the expected end date of mid-2023 for most US dollar LIBOR settings affect behavior?

Moderator: John Feeney, Partner, Martialis Consulting
Chu Kok Wei, Group Head, Treasury & Markets, Group Wholesale Banking, CIMB Bank Bhd and President, Financial Markets Association Malaysia and Vice Chairman, Asia Securities Industry & Financial Markets Association (ASIFMA)
Shinichiro Itozaki, Senior Manager, Financial Engineering Division, Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Jacky Mak, Managing Director, OTC & FIC Business Development, Post Trade, Hong Kong Exchanges and Clearing Limited (HKEX)

A senior Reserve Bank of Australia official will discuss progress in benchmark transition and official sector expectations in the Australian market.

While a growing volume of bonds and some loans have been issued on a global basis that reference risk-free rates compounded in arrears, some issuers have expressed a preference for forward-looking term rates – something various public-/private-sector RFR working groups are exploring. Others have voiced support for alternative rates that incorporate a credit-sensitive component. What approach are bond and loan issuers in Asia-Pacific taking, both in terms of LIBOR transition and contractual fallbacks for LIBOR-linked cash products? What implications does this have for derivatives hedges?

Moderator: Jing Gu, Head of Legal, Asia Pacific, ISDA
Andrew Ferguson, Chief Executive Officer, Asia Pacific Loan Market Association (APLMA)
Joyce Lai, Head of Legal and Compliance-Treasury & Markets, DBS Bank Ltd.
Atsuya Watanabe, Director, Markets and Securities Services, Citigroup Global Markets Japan Inc.

With less than 12 months to go until most LIBOR settings are expected to disappear, how liquid are the various risk-free rates identified as replacements? Which RFR-linked products are proving popular, and what trading strategies are emerging in the Asia-Pacific region? How are firms managing basis between different rates?

Moderator: Bihui Ong, Executive Director, Treasury & Markets, DBS Bank Ltd.
Thijs Aaten, ISDA Board Member, Chief Finance and Risk Officer, APG Asset Management Asia
William Shek, MD, Head of FX, EM Rates & Commodities, Debt Trading & Financing, ASP, HSBC Global Banking & Markets

How should firms in the region approach transition in the remaining months of 2021? What are the immediate priorities and remaining challenges relating to IT infrastructure, tax and accounting treatment, regulatory requirements and litigation and conduct risk? What can Asia learn from the experience in the US, Europe and elsewhere?

Moderator: John Ho, Head, Legal, Financial Markets, Standard Chartered Bank
Damian Lobb, Partner, Financial Services, Deloitte China
Tomoko Morita, Senior Director and Head of Tokyo Office, ISDA
Danny Tang, Senior Vice President, OTC & FIC Business Development, Post Trade, Hong Kong Exchanges and Clearing Limited (HKEX)
Dennis To, Regulatory Specialist APAC, Enterprise Solutions, Bloomberg