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ARTICLE · 16 JULY 2020

FSB And BCBS Report On Supervisory Issues Associated With Benchmark Transition

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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On July 9, the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS) published a report on the findings of surveys on supervisory issues related to LIBOR...

United StatesFinance and Banking
Ann Kalodis
Ann Kalodis
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On July 9, the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS) published a report on the findings of surveys on supervisory issues related to LIBOR transition undertaken by the FSB, the BCBS and the International Association of Insurance Supervisors (IAIS). The report includes recommendations for authorities to support financial institutions' and their clients' progress in transitioning away from LIBOR. The analysis and the underlying survey were undertaken before the COVID-19 pandemic and don't reflect any related issues. The report responds to the G20 request to identify remaining challenges to benchmark transition and to explore ways to address them.

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