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By Gilles WALERS, ABBL
The global reform of interest rate benchmarks including the London Interbank Offered Rate (LIBOR), the Euro Interbank Offered Rate (EURIBOR), the Euro Overnight Index Average (EONIA) and certain other Interbank Offered Rates (IBORs) is set to dramatically impact the global financial markets in terms of how these benchmarks perform and are being used. The IBOR reform is the biggest change in the capital markets since the introduction of the Euro at the start of the 21st century.
Regulatory authorities and public and private sectors are working together in several jurisdictional working groups (e.g. the Working Group on Euro Risk-Free Rates, the Sterling Risk-Free Rates Working Group, and the Alternative Reference Rates...
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