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The Death of LIBOR Not SOFR Away… Are You Ready? Secured Overnight Financing Rate: The New Benchmark – Expectations & Implications

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In 2021, the London Interbank Offered Rate (LIBOR), the world’s most important financial rate, will go away, but it is unclear what will replace the index used in virtually every significant credit arrangement, bond, swap and financial instrument. The volume of financial contracts based on LIBOR is estimated at $200 trillion.  The change will affect every company and financial institution.

The Federal Reserve Bank of New York has proposed that The Secured Overnight Financing Rate (SOFR) become the new lending resource rate. It is the rate banks will pay on the repurchase agreement market for borrowing overnight. US regulators anticipate SOFR will be widely adopted to back the derivatives and loans market, and to be the universally accepted replacement for the outgoing LIBOR.

Not SOFR away. Are you ready?  What can you expect and what are the implications of losing LIBOR and adopting SOFR?  Join us for this timely and interactive seminar to learn everything you need to know:

  • What is SOFR?
  • How will moving to SOFR change credit agreements, swaps, and other financial instruments?
  • How to navigate the transition? What should parties be doing now?

Date: Thursday, May 16, 2019

Time: 8:00 – 10:00 a.m.

  • 8:00 – 8:30 a.m. Registration & Breakfast
  • 8:30 – 9:30 a.m. Seminar
  • 9:30 – 9:45 a.m. Q&A
  • 9:45 – 10:00 a.m. Networking

Location: Chamber of Commerce for Greater Philadelphia
200 South Broad Street
Philadelphia, PA 19102

Member Individual Ticket: $55

Non-Member Individual Ticket: $75

 

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