Financial entities around the globe are rigorously preparing to transition away from the London Interbank Offered Rate (LIBOR) and other Interbank Offered Rates (IBORs), which are currently used in a significant number of financial instruments and products. It is expected that IBORs will be phased out for use as early as the end of 2021, in favor of more robust alternative reference rates (“ARRs”).
Given the current degree of uncertainty and complexity involved, the transition from IBORs to ARRs will be one of the biggest transformations the financial industry will undertake. BNY Mellon is committed to providing its clients and counterparties with key information and updates to help them navigate this transition.
BNY Mellon’s LIBOR Transition team:
LIBOR and other IBORs have been a cornerstone for the debt transactions of many financial institutions and corporations for decades.
Learn more about LIBOR, and key considerations that impacted entities should assess in preparation for the transition to ARRs.
Access our FAQs for preparing for benchmark rate reform.
For media inquiries, please visit our Newsroom.