IBORs (Interbank Offered Rates) are being replaced and the clock is ticking until their end date in 2021 is reached. More than 40 years of a benchmark era will then be over and authorities are urging banks to speed up and strengthen their efforts. 2020 is the critical year for transition with important milestones just ahead. This revolutionary reform of financial markets is a truly global challenge. BDO’s worldwide team of experts follows the developments closely to help our clients wherever they are. This is the first of a series of global webinars on IBOR we have lined up. In webinar ONE we provide insights into the imminent derivative collateral discounting switch scheduled for July 2020 for EUR collateral and October 2020 for USD collateral – what can you expect with regard to cash compensations and how will the switch affect your business? We will also update you on what the impact of the USD and EUR IBOR transition means for emerging markets in Africa.
Head of Global IBOR Taskforce, Vienna, Austria
Michael has been working for over 20 years at international banks. Prior to moving to BDO Austria, he was Head of Financial Accounting at Raiffeisen Bank and Chief Accountant at Erste Group Bank. He is an expert on IFRS Accounting for Financial Instruments, Hedging and Treasury Products.
Managing Director, Valuation & Business Analytics team, New York, US
Sudip has 20 years of industry experience and 10 years of experience providing consulting services to large global banks and other financial institutions. He specialises in complex securities and derivatives valuation and asset/liability management. He has experience providing guidance on model validation and model risk management.
Kevin leads the Financial Services division and Specialised Valuations Group, Johannnesburg, South Africa
He has a 14-year demonstrated history of working in the financial services industry in South Africa and across the African continent. Skilled in the audit and consulting fields of Banking, Investment Management, Corporate Treasury, Stockbroking, Financial Risk Management, Financial Engineering and related Financial Instrument Accounting and Fair Valuations.
Michael Hammer will talk about:
- Why and how the collateral discounting switch needs to be done
- How to determine cash compensations payment amounts
Sudip Chatterjee will talk about how BDO can help with every step of the LIBOR transition including:
- Preparing a comprehensive transition plan
- Performing an entity wide risk assessment
- Executing on transition plan
He will also discuss in detail:
- What is fallback language?
- Key concepts and considerations of fallback language
- General recommendations for fallback language reform
Kevin Hoff will talk about:
- The impact of the US and EU IBOR transition on emerging markets in Africa
- The potential knock-on impact on hedge accounting
Please register for our free webinar to receive your access data and get updated by our worldwide experts.
The slides can be downloaded here
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