Please note that this session will be held under the Chatham House Rule

Regulatory and contractual practicalities to achieve global compliance

• Regulatory updates and dependencies:  which regulations still need to change to accommodate the transition
• International variations in requirements – what to prioritise?
• Providing feedback to regulators
• Ensuring clarity by addressing the remaining legal and contractual challenges associated with LIBOR
• Working across multiple jurisdictions
• Managing multiple regulatory regimes

Moderator:
Edward Ocampo, Non-Executive Director, FICC Market Standards Board

Panel:
Barry Hadingham, Head of Derivatives & Counterparty Risk, Aviva Investors
Janet Wood, Managing Director and Associate General Counsel, Bank of America
Agathi Pafili, Member of the EUR RFR WG – Representative of EFAMA

Implementation progress: understanding differences, timeframes and possible delays in the migration of financial institutions towards IBOR transition

• Transitional differences in the UK, EU and US
• Timelines and transition in current time scales
• Trading of alternative risk-free rates (RFRs)
• Clearing house transition
• 2021 Q1: what still needs to be done by individuals’ firms and the wider industry?

Moderator
Stephen Pegge, Managing Director, Commercial Finance, UK Finance

Panel:
Thomas Wipf, Vice Chairman, Morgan Stanley
Ian Fox, Group IBOR Transition Director, Lloyds Bank, Group Corporate Treasury
Chris Dickens, COO EMEA, HSBC

Mitigating conduct and risk during the transition: communicating efficiently with customers and partners

Developments in SONIA, SOFR and €STR: exploring the new rates going forward

• Changing instruments to new rates: floating loans, swaps, derivatives
• The adjustment spread in practice
• Evolution of term rates
• Improving SONIA issuances and term reference rates
• Adapting internally to the new rates landscape

Moderator:
Max Verheijen, Director Financial Markets, Cardano

Panel:
Kam Mahil, Senior Director, Loan Market Association (LMA)
Daniel Wynne, IBOR Transition SME, National Australia Bank
Frances Hinden, Vice Chair of Working Group and VP, Treasury Operations, Shell
Alaistair Sharp, Managing Director, Credit Suisse
Jason Granet, Managing Director, Goldman Sachs

Transitioning from LIBOR to RFR-linked issuance: the issuer’s perspective

• Modelling changes needed to facilitate LIBOR phase out and future use of RFRs
• Risks of a slow transition to RFRs: availability of vendor platforms and understanding of the necessary adjustments
• New methodologies (lags/shifts/lockouts)
• The importance of indices
• Structured products linked to LIBOR
• Legacy issues

Katie Kelly, Senior Director, Market Practice & Regulatory Policy, ICMA

Please note that this session will be held under the Chatham House Rule

The current and future ramifications of IBOR transition and the anticipated challenges in 2021

• Overall impact on the financial industry
• Effective customer and client engagement and communication best practice to limit conduct risk 
• How has the removal of LIBOR affected trust between institutions?
• Ramifications for capital and liquidity
• Anticipated reactions of clients, customers and stakeholders
• Market expectations post 2021

Moderator:
John Ewan, Director, Benchmark Advisory Services

Panel:
Michael Barron, Director, UK Insurance and Pensions, Deutsche Bank AG
Nabil Owadally, Portfolio Manager, BMO Global Asset Management
Doug Laurie, Director, Programme Lead, Wholesale Lending Technology and Change, Barclays