Letting go of Libor – the evolving transition strategies of 110 banks and buy-side firms

Libor’s demise as a trusted benchmark presents a seismic challenge to the financial services industry. As time ticks down to its planned replacement in 2021, and alternative rates and new products emerge, market participants must determine the risks to their businesses and decide their transition strategies.

A Risk.net survey, commissioned by KPMG, assessed firms’ readiness for transition and this whitepaper provides analysis on those findings and unique insight into the evolving strategies of banks and buy-side entities.

Among the findings, this Risk.net survey report reveals:

• Firms’ current exposure to Libor risk
• Transition programme strategy and progress
• Concerns over conduct risk and ‘tough legacy’ contracts
• Data and analytics capabilities and requirements  
• Key actions for a successful transition