IBOR reform

The European Benchmark Regulation (BMR) and the decision of the Financial Conduct Authority (FCA), a British regulator, to lift the requirement to publish the LIBOR rate have changed how certain IBOR-type interbank rates (e.g., EURIBOR, PRIBOR and EONIA) are set and, in some cases, have resulted in their abolition and replacement.

For users of these rates, including financial institutions, issuers, share investors and users of financial derivatives, this transformation has affected a wide range of areas, such as financial instrument valuation, financial management, contractual documentation regarding financial instruments, and IT. Even now, after some interbank rates have officially been replaced or abolished, the IBOR reform continues to develop and may have additional future impacts.

The objective of this course is to present the changes in risk-free rates as well as the latest developments in related regulation and its implementation in individual countries. In addition, the main impacts on financial institutions and commercial companies will be discussed. The course will be led by consultants experienced in projects involving impact analyses, implementation and reviews of the implementation of the risk-free rate reform at Czech financial institutions.

Who are the intended course participants?

  • Risk, finance and treasury managers/specialists at financial or non-financial institutions
  • Issuers and share investors
  • Other individuals keen to learn more about interest rates

Programme

  • Reason for the reform: the manner of setting interbank rates and its limitations
  • The BMR and its requirements
  • Impacts and current developments for selected rates (LIBOR, EURIBOR, EONIA, PRIBOR, etc.)
  • Successor rates (ESTR, SOFR, SONIA, etc.), their parameters and differences from the current rates
  • Impact of the reform on businesses: a summary of affected areas and key risks, and a discussion of the experience gained from implementing the changes
  • Additional steps following the implementation of successor rates: a summary of regulatory development and identification of focus areas where further changes can be expected

Benefits

You will:

  • Gain an understanding of the risk-free rate reform’s effects on your organisation.
  • Hear from people with practical experience in managing impact assessment projects relating to the transition to the new rates.
  • Become acquainted with the issues that the risk-free rate reform brings to your organisation.
  • Learn about the latest developments and potential further changes following the implementation of the new successor rates.

Register for two or more training sessions from the INTEREST programme for financial institutions and get a discount.

  • Two sessions: 5% discount on the price of both sessions
  • Three sessions: 10% discount on the price of all sessions
  • Four or more sessions: 15% discount on the price of all sessions
Dates

IBOR reform

18. 10. 2022 09:00–12:00
KPMG Česká republika, Pobřežní 1a, Praha 8
Course fee: 3 800,- CZK ex. VAT
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For attending this training course, you are eligible to gain 4 of CPD points.

The fee includes training materials, morning refreshments. The training will be conducted in Czech.

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