ASIFMA Publishes IBOR Transition Guide for Asia

Source: Regulation Asia Editors, Regulation Asia 2020-07-14

The guide provides an overview of issues for FIs to consider in their LIBOR transition programmes and an implementation checklist.

ASIFMA has published an IBOR Transition Guide for Asia, co-produced with the APLMA (Asia Pacific Loan Market Association), ICMA (International Capital Market Association), and ISDA (International Swaps and Derivatives Association), and co-authored by Deloitte and Morgan Lewis.

The IBOR Transition Guide for Asia provides an overview of key implementation issues Asian financial institutions (FIs) should consider in preparing to transition from the LIBOR in all its tenors and currencies to alternative reference rates (ARRs) by end-2021.

> ALSO READ: HKMA Sets Out Key LIBOR Transition Milestones for Banks (13 Jul 2020)

The guide includes a practical implementation checklist for FIs to use as a reference when assessing the impacts of benchmark reforms.

The checklist covers:

programme governance
transition management programme
communication strategy
identification and validation of IBOR exposures
product strategy development
risk management
transition of existing and new contracts
operational and technology readiness
accounting and reporting
taxation

The guide also includes a set of key questions for FIs to consider in their LIBOR transition programmes, and a list of relevant resources for reference.

The full guide is available for download here.

ASIFMA Publishes IBOR Transition Guide for Asia

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