The administrator of the London Interbank Offered Rate has made what was expected official: the widely used benchmark will cease publication, with certain Libor tenors ceasing as soon as the end of 2021. With the “Libor endgame” in its final stages, along with a welter of other Libor transition news in recent weeks, ABA VP and ARRC member Hu Benton joins the ABA Banking Journal Podcast to discuss:

• ICE Libor’s public consultation to cease publication of Libor tenors
• Supervisory expectations for how banks use Libor in the interim period before the rate ceases
• What regulators have said about banks’ use of alternative rates to the Secured Overnight Financing Rate, such as Ameribor or commercial paper
• The adoption of the ISDA protocol on fallback rates for derivatives
• The importance of educating clients about the Libor transition and what it means for them
• Resources from the Alternative Reference Rates Committee on SOFR adoption, contract fallbacks and other challenges

Additional resources:

• Resources from the ARRC (contact Hu Benton at [email protected] to join a working group)
• ABA resources on reference rate transition