The transition from LIBOR to alternative reference rates presents numerous challenges, particularly when it comes to renegotiating and operationalizing fallback language for both
existing and new contracts. Although uncertainty remains among market participants and industry guidance continues to evolve, adopting a “wait-and-see” attitude before amending
contracts is not considered wise.
This whitepaper looks at why financial institutions should consider acting now to develop a solution that supports the use of appropriate contract language in preparation for the
permanent discontinuation of LIBOR.