Four crucial impact areas for banks during a LIBOR transition

The LIBOR (London Interbank Offered Rate), which is the underlying interest rate for over US$370 trillion worth of financial contracts, is set to be sunsetted by end of 2021.

Hexaware Technologies delves into the impact and challenges faced by banks and FIs in transitioning from LIBOR to Alternative Reference Rates.

Whitepaper highlights:-

  • Insights on Alternative Reference Rates that are set to replace LIBOR
  • Four crucial impact areas for banks to consider during a LIBOR transition
  • Role of technologies such as AI in in tackling operational challenges such as contract remediation
  • Strategic considerations for new products operationalization

Did you know? While almost 82% of total US LIBOR referenced financial contracts will likely expire by 2021, financial institutions will still have to tackle the transition for $36 trillion in contracts.