With Libor slated to sunset by the end of 2021, banks need to identify and mitigate their Libor transition risks. According to Fed leadership, “The firms we supervise should be aware of the intense supervisory focus we are placing on their transition and especially on their plans to end issuance of new contracts by year end.” Overall, the Libor transition is something bankers will want to have their arms firmly wrapped around sooner rather than later.
Author Josh Stein
ABA VP Josh Stein offers insights on a recent FASB meeting.
By Josh Stein For banks that have experienced rapid and possibly short-term inflows of assets…