Libor and Euribor reform: what does the future hold?
Libor and Euribor are central to the global financial system, acting as the benchmark rates for trillions of dollars in financial products. Adapting to any reform or replacement of these benchmarks will involve numerous challenges and risks.
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  • SECTOR IN-DEPTH
    06 Oct 2021|Moody's Investors Service
    The phaseout of traditional non-US$ interbank offered rates (IBORs) at the end of 2021, aside from “synthetic” rates, leaves a few months to fully transition contracts and operations to transaction-based, overnight alternative reference rates (ARRs).

    SECTOR IN-DEPTH
    23 Sep 2021|Moody's Investors Service
    Credit effects from Libor’s ongoing phase-out will be immaterial for most structured finance deals that use Libor replacements, but credit quality is at risk for some transactions, reflecting challenges such as embedded derivatives.

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    PODCAST
    24 Jun 2021|Moody's Investors Service
    In this month’s episode, Jody Shenn of the Structured Finance team joins hosts Aaron Johnson and Ruth Mantell to discuss hot topics in the market. Then, Brian Snow from the Commercial Mortgage-Backed Securities (CMBS) team talks about the effects of New York’s new emissions law on CMBS.​​​

    Podcast
    24 Mar 2021|Moody's Investors Service
    In this latest segment, Peter Hallenbeck of the Structured Credit team and Masako Oshima of the Consumer Assets team consider the effect that Libor transition will have on various structured finance asset classes. Plus, Aaron Johnson and Greg O’Reilly discuss the performance of structured finance collateral one year into the coronavirus pandemic.
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    VIDEO
    VIDEO
    18 Dec 2020|Moody's Investors Service
    With Libor’s end date now in sight, the challenge for global structured finance markets is coming into sharp focus. Particularly for ‘tough legacy’ transactions.
     

    PODCAST
    07 Oct 2020|Moody's Investors Service
    As policy rates continue to decline globally, Banking team member Laurie Mayers examines the effect on UK banks, while Shunsaku Sato does so for Japanese banks and Farooq Khan for Brazilian banks. Plus, Olivier Panis of the Banking team and Stefan Kahandaliyanage of the Asset Management team update financial institutions’ readiness for the transition away from Libor in 2021.​​
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