In summary, LIBOR’s days are numbered and conversion to the new benchmarks, like SONIA, is a necessity - this will inevitably and unavoidably bring some challenges for corporates, but there is plenty of skilled assistance available to be called upon as the choppy waters are navigated and the calmer SONIA waters can be reached.
The Association of Corporate Treasurers held an International Treasury Week webinar during May. A session covered market progress on the transition away from IBOR and on to Risk Free Rates (‘RFR’s). Edwin Schooling Latter, Director of Markets and Wholesale Policy gave the Financial Conduct Authority’s update.
