Full speed ahead from LIBOR to SOFR (Slides)
admin | May 20, 2020
This document is intended for institutional investors and is not subject to all of the independence and disclosure standards applicable to debt research reports prepared for retail investors.
Wednesday, May 20, 2020 – 3:30 pm EDT
The transition away from LIBOR has entered its sixth year, and the deadline for adopting SOFR looms ahead at the end of 2021. The Alternative Reference Rates Committee has made quick work of many legal aspects of transition but continues to wrestle with thorny problems in legacy loans and securitizations. Systems providers have started preparing for a new SOFR world amidst many unknowns. And investors have doubts about ARRC’s recommended approach to the switch, with the COVID-19 crisis putting the timing and the valuation impact in stark relief.
Conference call slides are available here.
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