The London Interbank Offered Rate (LIBOR) has been the reference interest rate of record for half a century. But in 2021, this rate, which currently governs more than US $350 trillion worth of financial contracts worldwide, is being replaced.

For Chief Financial Officers and Chief Legal Officers within capital markets, commercial lending, retail banking, wealth management, investment management, insurance, market infrastructure and corporate treasury businesses, it’s time to prepare for the impact that the replacement of LIBOR will have on current and legacy contracts.

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