Neil Bloomfield and Ed O’Keefe are coordinating a panel titled “LIBOR and the Potential Replacement Reference Rates: Where Do We Go from Here?” for the UNC Banking Institute on March 22 at the Ritz-Carlton in Charlotte, NC. Speakers on the panel include Ann Battle of the International Swaps and Derivatives Association, Inc., David Bloom of SunTrust Banks, Inc., Raymond Check of the Federal Reserve Bank of New York, Harriet Hunnable of the U.K. Financial Conduct Authority and Joaquin M. Sena of Bank of America.
The panel will discuss how the potential transition away from LIBOR has raised significant concerns in the financial markets. These concerns include whether LIBOR will end in 2021, what rates are likely to be used to replace it, what fallback language should be included in contracts in the interim, and how the risks can be hedged. Regulators in the U.S. and the U.K., as well as industry groups and institutions have been working to address these issues. This diverse panel of industry leaders will focus on the issues that developed with LIBOR and other reference rates and issues that still persist today. They will also cover the alternative reference rates being considered in the U.S. and the U.K. in addition to discussing what financial institutions can do now given the market uncertainty.
Neil Bloomfield has more than a decade of experience advising major financial institutions, and other highly regulated entities in responding to government investigations, including responding to global investigations into LIBOR and other reference rates, foreign exchange trading, and the allegations raised by the Panama Papers. He also frequently advises clients as they implement programs to comply with regulatory requirements, including requirements created by Recovery and Resolution Planning and CCAR.