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In this week's FFF: Industry Conversations, Jeremy Cross, a Cadwalader partner and member of our LIBOR Preparedness Team in London, discusses the state of play and issues around the proposed...
In this week's FFF: Industry Conversations, Jeremy Cross, a
Cadwalader partner and member of our LIBOR Preparedness Team in
London, discusses the state of play and issues around the proposed
replacement of Sterling LIBOR with "SONIA" with two other
members of the LIBOR preparedness team in London, special counsels
Michael Sholem and Assia Damianova. The discussion covers all the
high-level things you need to know, including what a
"risk-free rate" is, the main differences between SONIA
and LIBOR, the documentary and other changes that this will
require, the implications of this on Margin and other costs, what
market participants need to be thinking about and when, as well as
some of the issues and questions that still remain.
The content of this article is intended to provide a general
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