Is The LIBOR Transition Creating A Sense of Urgency For Banks?

Navigant Lends Perspective in a Compliance Week Article

The impending discontinuation of LIBOR is creating some uncertainty over what will happen in the U.S. financial markets. This major benchmark interest rate is expected to vanish in 2021, and both the SEC and the Federal Reserve are urging companies to start taking steps to developing an action plan for the new rates.

Navigant shared insights on how companies can prepare for this transition. In an article for Compliance Week, Navigant proposed that, “one of the first things to do, as with any change initiative, is to establish a robust governance and planning process around this, get it on the board agenda, then start allocating work teams to tackle it.”

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