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LIBOR transition readiness within corporate treasury

June 16, 2021 @ 1:00 pm - 2:00 pm EDT

Free
EY CPE Webinars

Participants of the live webinar will be eligible for 1.2 free CPE credits

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In this webcast, panelists discuss the LIBOR transition and how corporations should prepare for alternative reference rates and the transition of legacy contracts.

Interbank lending rates (IBORs) are interest rate benchmarks that underpin over US$350t in financial instruments and contracts globally. The transition from IBORs to alternative reference rates (ARRs) will impact corporate organizations across various functions, such as treasury, accounting and IT.

Corporations should begin assessing the cross-functional implications and organizational risks to their specific businesses with the aim of reducing their reliance on IBORs. Following the assessment, corporations should also develop robust implementation plans to mitigate significant risks to their organizations.

Join us for a discussion to:

  • Identify factors that distinguish secured overnight financing rate (SOFR) and other alternative reference rates (ARRs) from LIBOR, including transaction volume, design, pricing and methodology
  • Identify potential advantages and disadvantages of the IBOR transition process and respective market considerations
  • Identify operational readiness considerations for IBOR transition, such as portfolio inventory, technology components, risk and controls, and relevant testing strategy
  • Understand the accounting implications, including Financial Accounting Standards Board (FASB) rule amendments, hedge accounting strategies and relief, and practical application cases
  • Learn what organizations should focus on in the near future to prepare for the transition away from LIBOR

Panelists:

  • Casey J. Kernan, Principal, Global Treasury Services, Ernst & Young LLP
  • Jeff Vitali, Partner, Financial Audit Assurance Services, Ernst & Young LLP
  • Barry Barretta, Managing Director, FSO Liquidity and Treasury Services, Ernst & Young LLP
  • Rachel Sacco, Managing Director and Head, IBOR Transition Program, BMO Financial Group

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