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IFLR USD Libor survey 2021

With just over three months to go until no-new-Libor kicks in in the US, we are running a survey to gauge market feeling on the Libor transition and overall readiness. Have your say now

With just over two months to go until the Federal Reserve’s no-new-Libor resolution kicks in, time is running out for the US markets to move away from Libor and adopt alternative risk-free rates.

The authorities have been ramping up the pressure in recent weeks, with initiatives such as SOFR First – a phased initiative for switching trading conventions from Libor to the secured overnight financing rate (SOFR) for USD linear interest rate swaps, cross-currency swaps, non-linear derivatives and exchange-traded derivatives – progressively kicking in.

Meanwhile, criticism from regulators and the authorities on both sides of the Atlantic against credit-sensitive rates continues to intensify. Whether or not that will affect their growing popularity, however, remains to be seen.

Against this backdrop, and with another two and a half years to go until all USD Libor settings are definitively discontinued, we thought now was a good time to reach out to market participants to gauge their level of readiness.

In this survey, we ask you questions relating to legacy contracts, to current and project credit-sensitive as well as term SOFR rates use, to the authorities’ management of the transition, and to your overall state of progress.

We look forward to receiving your responses and collating the data. There will be a follow up report based on your responses, which will of course remain anonymous.

You can take the survey here.

The survey should only take a few minutes to complete. Thank you very much in advance for your contribution.

Alice Tchernookova, Senior Reporter

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