IBOR Transition Workshop – From IBOR to Alternative Benchmark Rates
Join our two-day IBOR Transition Workshop designed to address the critical shift from the London Interbank Offered Rate (LIBOR) to alternative benchmark rates like the Swiss Average Rate Overnight (SARON), Secured Overnight Financing Rate (SOFR), Reformed Sterling Overnight Index Average (SONIA), Tokyo Overnight Average Rate (TONAR), and Euro Short-Term Rate (ESTER). The International Financial Data Services (IFDS) stopped publishing LIBOR data on June 30, 2023.
Navigating the IBOR Transition
Despite industry efforts, trillions of dollars of contracts remained tied to LIBOR rates that ceased on June 30, 2023. To address this, the Federal Reserve and the UK Financial Conduct Authority (FCA) have been conducting ongoing consultations on synthetic LIBOR.
In December 2022, the Federal Reserve adopted a final rule identifying benchmarks to replace USD LIBOR under the LIBOR Act. This rule marked a significant milestone in the US financial system’s transition away from LIBOR. Meanwhile, the UK’s FCA has mandated the publication of synthetic LIBOR for an additional 15 months to assist loans and bonds not covered by the LIBOR Act.
Recently, the Alternative Reference Rates Committee (ARRC) recommended best practices for implementing fallback language for LIBOR-referenced contracts. Additionally, the International Swaps and Derivatives Association (ISDA) updated its IBOR Fallback Protocol to facilitate a smooth transition to risk-free rates. These developments highlight continuous efforts to ensure a stable transition from LIBOR to alternative benchmarks. Financial institutions must stay updated on these changes to effectively manage the transition.
This course will cover these latest developments, helping participants understand and apply these changes within their organizations.
Workshop Objectives
Our workshop aims to help banks and non-banking organizations prepare for this transition. We will develop a comprehensive transition plan and perform an initial impact assessment. Key stakeholders will gain awareness of the challenges and implications of the transition. This includes creating liquidity, establishing a term structure for the new reference rates, and fallback approaches for ISDA derivative contracts.
Key Learning Features
The program will cover the following topics:
- Overview of the IBOR Transition: Understand the implications for financial markets.
- Introduction to Alternative Benchmark Rates: Learn about their characteristics and differences.
- Impact Assessment: Evaluate how the transition affects your organization’s operations and value chain.
- Transition Planning: Develop and implement a comprehensive transition plan.
- Risk Management and Compliance: Discover best practices for managing risks and ensuring compliance during the transition.
Program Benefits
By the end of the program, participants will have a clear understanding of the challenges and opportunities presented by the IBOR transition. They will be equipped with the knowledge and tools to develop a comprehensive transition plan.
Our Global Program Schedule
London | Dubai | Toronto | Singapore | Zurich | New York City | Sydney | Online
- To learn more about our training programs or register for a course, please contact our customer service team.
- If you are interested in running our training programs as an in-house program, we can provide a customized quotation based on your specific requirements.
We look forward to hearing from you and assisting with your training needs.
Instructor Bio
Our faculty members are highly qualified experts with a diverse range of specializations, including International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS), Generally Accepted Accounting Principles (USGAAP), UK GAAP, risk management strategies, valuations, mergers & acquisitions, corporate governance, ESG reporting, supply chain management, prudential regulations, and compliance matters such as Basel regulations, Solvency II, Anti-Money Laundering regulations, and more. Additionally, they have expertise in a variety of professional development programs, such as negotiation skills, presentation skills, data management, Python, Block-Chain, Digital Assets, and Becker CPA. This depth and breadth of knowledge ensure an engaging and effective learning experience for professionals and senior executives, helping to enhance knowledge retention.
Our faculty members are seasoned professionals with a wealth of experience in their respective fields. They bring a unique combination of practical knowledge and theoretical understanding to the classroom, making them well-equipped to address the challenges faced by professionals in today’s rapidly changing business environment. Their expertise and hands-on experience ensure that participants receive the most up-to-date and relevant information, which they can immediately apply to their own work. The interactive and engaging learning environment fostered by our expert instructors also helps participants retain information and improves their overall understanding of the subject matter. Whether you’re seeking to expand your knowledge, enhance your skills, or explore new career opportunities, our faculty members are equipped to provide you with the guidance and support you need to achieve your goals.
Instructor for this course
The course instructor will be one of our highly experienced faculty members.
Our Partners
Our Partners in Learning
Course Description
Session 1: Introduction to the IBOR Transition
- Overview of the IBOR transition and its impact on the financial markets
- Introduction to alternative benchmark rates (SARON, SOFR, SONIA, TONAR, ESTER)
- Assessment of the challenges and risks associated with the transition
Session 2: The Implementation Process
- Overview of the implementation process
- Building a comprehensive transition plan
- Assessment of the impact of the transition on the organization’s operations and value chain
- Developing fallback approaches for ISDA derivative contracts
Session 3: Creating Liquidity and a Term Structure
- Overview of liquidity and term structure for the new reference rates
- Challenges and opportunities presented by the creation of liquidity and a term structure
- Best practices for managing liquidity during the transition process
Session 4: Compliance and Risk Management
- Overview of the regulatory landscape related to the transition
- Best practices for ensuring compliance during the transition process
- Managing operational and financial risks during the transition process
- Review of case studies highlighting best practices for the transition process
- Q&A with the instructor and other participants to address specific concerns or questions
The course agenda provided herein is the proprietary intellectual property of Shasat. It is intended solely for the use of participants enrolled in the respective course. Any reproduction, distribution, or unauthorized use of this course agenda, in whole or in part, without the explicit written consent of Shasat, is strictly prohibited and may result in legal action.
All rights reserved. ©2024, Shasat
Why you must attend?
The transition from IBORs to new reference rates is one of the most significant challenges facing the global financial industry today. With the Financial Stability Board estimating that over $400 trillion worth of notional contracts used IBOR (LIBOR) as a reference rate, the impact of the transition cannot be overstated. IBOR rates are embedded in a wide range of credit products and derivatives, and with benchmarks being so extensively used, the shift away from IBOR is a significant development in financial markets.
To mitigate uncertainty, firms must determine appropriate spreads to apply to new reference rates ahead of the transition, requiring the recalibration of a wide range of risk models. Financial and non-financial institutions with significant market exposure will need to undertake a significant transformational effort to prepare for the transition, which brings several other challenges.
The IBOR Transitions Workshop will provide you with the knowledge and tools to navigate this complex transition. You’ll learn about the impact of the transition on the financial markets, explore the new benchmark rates, and gain a deeper understanding of the implementation process.
The transition from IBORs to new reference rates is well underway, with many countries having already moved to a new benchmark rate or in the final phases of doing so. The United States and the United Kingdom are among the countries in the process of finalizing their transition to new benchmark rates. It is essential for financial and non-financial institutions to understand the impact of this transition on their operations and to take necessary steps to ensure a smooth transition.
Join us for the IBOR Transitions Workshop to learn about the latest developments in the transition and gain the knowledge and tools to navigate this complex process.
Teaching methodology
Our program employs an interactive and comprehensive approach to learning, designed to maximize impact and retention. Our methodology includes:
- Engaging presentations: Our program includes user-friendly slide decks that present the IBOR transition process and related concepts in a clear and concise manner, making the material accessible to all attendees.
- Real-life case studies: We use real-life examples of the impact of the IBOR transition on financial contracts and derivatives, as well as recent market events related to the transition, to provide hands-on experience and bring the material to life, allowing attendees to see the practical application of transition concepts and methodologies.
- Examples and scenarios: We explain the IBOR transition process and related concepts through the use of examples and distinct scenarios, allowing attendees to understand the material in context and apply it to their own organizations.
- Group exercises: Our program includes group exercises designed to illustrate the implementation of transition practices, encouraging collaboration and fostering a deeper understanding of the material.
- Discussion sessions: We hold discussion sessions on best practices, compliance issues, and regional differences in implementation, providing attendees with a well-rounded understanding of the subject matter and allowing them to apply transition practices in their specific context.
- Additional course material: We provide attendees with additional course material and handouts, ensuring they have a comprehensive reference resource to support their learning and implementation of transition practices.
- Open and inclusive atmosphere: We foster an open and inclusive atmosphere that encourages attendees to ask questions and engage in discussion, ensuring a thorough understanding of the material and fostering a community of learning.
By employing this methodology, we aim to provide attendees with a deep understanding of the IBOR transition process and practical tools to implement it in their organizations. Our interactive approach ensures that attendees are actively engaged throughout the program, maximizing their retention of the material.
Who Should Attend?
The IBOR Transition Workshop is designed for anyone who wants to gain a deeper understanding of the IBOR transition process and its impact on the financial markets. This includes professionals from financial and non-financial institutions, risk managers, compliance officers, lawyers, and other professionals who have a stake in the transition. Whether you are working in banking, asset management, insurance, or any other sector of the financial industry, this workshop will provide you with the knowledge and tools you need to prepare for the transition and effectively manage the risks associated with it. Additionally, the workshop is suitable for anyone who wants to stay up-to-date with the latest developments in the transition and gain a competitive edge in the industry.
Feedback
Upon completion of the course, all delegates will receive an evaluation questionnaire aimed at gathering valuable feedback. This feedback is crucial to Shasat’s ongoing commitment to improving the quality of its learning solutions. By analyzing the trends in the responses, we are able to continuously enhance and refine our offerings to meet the evolving needs of our clients.
Venue & other info
Our training programs take place at the most prestigious professional training facilities in the city. Our venues have been meticulously chosen and expertly crafted to deliver an unparalleled and sophisticated learning experience. To further elevate your training journey, we will offer an array of refreshments including gourmet tea/coffee, delectable snacks, and a sumptuous lunch to sustain you throughout the course. Your comfort and satisfaction are of the utmost importance to us. One week before the program begins, you will receive comprehensive joining instructions that include the exact venue details.
Please note that accommodation arrangements are the responsibility of the attendee.
Workshop Delivery (Online Programs)
The workshop will be delivered via the WebEx platform. Upon registration, all participants will receive comprehensive joining instructions for the live workshop. This fully virtual event will encompass a live-streamed presentation, personalized networking opportunities, interactive Q&A sessions, engaging polls, and post-event consultation to address specific concerns and support your continued growth.
In-Person Workshop
Please be advised that for all in-person training programs, joining instructions will be sent via email to registered participants one week prior to the program’s commencement. These instructions will provide comprehensive information regarding the venue location, date, and time, as well as other important details such as parking arrangements, dress code, and any necessary equipment or materials. Kindly ensure that you carefully review the joining instructions and follow the guidelines provided to ensure a smooth and well-organized experience during the program.
Changes to the conference
Shasat reserves the right, at its sole discretion, to make modifications to the format, speakers, participants, content, venue location, program, or any other aspect of the conference, at any time and for any reason, without incurring any liability. This policy has been implemented due to recent events such as the Covid-19 pandemic and other jurisdictional restrictions. These modifications may include but are not limited to, changes necessitated by a Force Majeure Event
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Discover more about Shasat by exploring our “About Us” page, where you can gain insights into our company’s mission, values, and history, and learn how we can help you achieve your goals.
Payment
Enroll in our program with ease by choosing from our secure online payment options. You can make a payment through our website using PayPal or Stripe, or opt for a bank transfer, demand draft, or cheque payment. Our payment page will provide all necessary options during checkout. If you encounter any issues, our customer service team is here to assist you. Simply reach out to us with your selected course, and we’ll guide you through the payment process.
We kindly request that you take into consideration any associated bank fees when making your course fee payment. To ensure your participation in the program, payment must be received before the course date. Once we have received both payment and a completed registration form, we will confirm your enrollment in the program. Thank you for your understanding and cooperation.
Group discount
Our company is proud to offer a group discount of 15% for organizations or individuals who book a course for 5 or more participants. To take advantage of this offer and receive a personalized group discount code, please reach out to our customer service desk at info@shasat.com. Our team will be delighted to assist you with the booking process and answer any questions you may have. With this group discount, you can invest in the professional development of your team and drive success for your organization. Don’t hesitate to contact us today to learn more.
Upon successful completion of the training course, each participant will receive a certificate of completion that attests to the number of hours spent in training and serves as a valuable representation of their dedication to professional development. The certificate is not only a symbol of their achievement but also serves as proof of continuous professional development (CPD) and demonstrates their commitment to staying current in their field. We believe that CPD is a crucial aspect of career advancement and personal growth, and are proud to provide our participants with this important document.
For further assistance, we invite you to contact our dedicated customer service team. Our experienced and knowledgeable representatives are available to answer any questions you may have and provide the support you need to make informed decisions. We are committed to ensuring that you have a positive experience and are here to help in any way we can. Please don’t hesitate to reach out to us at your convenience.
In-House Training
Enhance your team’s skills and drive success for your business with our custom In-house training program. Our tailored approach aligns with your specific business needs, offering a cost and time-efficient solution for upskilling your employees. This not only improves their productivity but also positions your company as a competitive force in the market. Transform your investment in employee development into tangible results by choosing our In-house training option. To discuss and learn more about our services, please don’t hesitate to contact our training desk. We’re ready to help you create a bespoke program that’s just right for you.
