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LIBOR has been at the forefront of our attention since 2012, when it was revealed that financial institutions were manipulating the rate for their own gain. The UK Financial Conduct Authority is set to discontinue LIBOR by the end of 2021, and it’s important we are ready for the transition.
In this edition of the AFP Conversations Podcast, Tom Hunt, director of Treasury and Payments Services at AFP, speaks with David Bowman, senior associate director at the Board of Governors of the Federal Reserve System. Bowman serves as the Board’s senior staff liaison to the Alternative Reference Rates Committee.
In this episode, Bowman provides an update on the status of the LIBOR transition, what needs to be done before year end, and advice for corporates approaching their banks about rate alternatives.
This episode expresses personal opinions that do not necessarily reflect those of the Federal Reserve.