Benchmark Replacement Rates Update: Q3-2019

As the third quarter of 2019 marches on, some aspects of the IBOR replacement effort have made progress, but others appear stuck in the mud. Several market regulators — in the US and UK especially — have raised concerns about the continued use of various Libors, and some of the commercial alternatives have gained momentum, while signs are emerging that the administrator of Libor will make a case to keep it alive. This TABB Group Q3 update explores the performance of all the possible IBOR replacements, the burgeoning problem of fallbacks for existing and even new instruments, a set of issues that have surfaced in accounting and taxes, and takes a look ahead as December 31, 2021 keeps getting closer.