Libor webinar playback: spotlight on sterling

Panellists from Barclays, HSBC, Intralinks and Morgan Stanley discuss early cessation announcement

Panellists

  • Doug Lawrie, Libor transition programme lead for wholesale lending, corporate banking and private banking, Barclays
  • Maria Nogueiras, global head of collateral risk analytics, HSBC
  • Heidi Harrison, principal sales engineer, Intralinks
  • Ivan Jossang, managing director and global head of Libor transition for fixed income, Morgan Stanley
  • Duncan Wood, editorial director, Risk.net

The next 12 months will determine how rates markets cope with the death of Libor.

With transition efforts now entering a critical phase, Risk.net’s editorial team is running a series of quarterly webinars, breaking down the issues facing the market, tracking the progress made and highlighting the remaining questions. 

This quarter’s webinars kicked off on September 22 with a session focusing on the sterling market. Subscribers can replay the webinar above.

The discussion explores the pros and cons of an early notice of Libor cessation – and also considers its possible scope. Polled on the same questions, the audience expressed a strong preference for the date of Libor’s cessation to be confirmed before the middle of next year, but was divided on how broad the cessation should be. As things stand, there is no clarity on which of Libor’s 35 currency and tenor pairings will be discontinued, and there was some scepticism that the US market would be ready for US dollar Libor to die at the end of next year.

Towards the end of the debate, the discussion turns briefly to the question of when Isda’s fallback protocol will be adopted – and how widely – and also considers the industry’s call for regulatory relief on certain rules relating to traded risk models.

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