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London, Europe, USA East Coast
CPEs: 24
Instructor: Gary Van Vuuren PhD
Level: Intermediate
Tuition: £2,245.00
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NEW Replacing LIBOR with Alternative Interest Rates – Understanding the Changing Market Based Interest Rates TR039

Location: London, Europe, USA East Coast

First Date: Jul 07 - 09 2021

Duration: 3 days/ 24 hours

Programme Director: Gary Van Vuuren PhD

All Dates & Locations
Venue Details

Experience the highly-interactive expert-led social learning through Virtual Classroom via Cisco WebEx from Risk Reward.

All our 2021 Virtual Classroom events feature shared (or discrete) live chat between delegates and the expert, participate in topical surveys, polling questions, group exercises and case studies for a tried -and- true engaging and gratifying learning experience.

"Great insight into the topic. Good explanation of the topics."
Risk manager, VISA, South Africa
Agenda Highlights

Sessions 1 and 2: The history, development, and current issues with LIBOR, work done so far by the Federal Reserve, FSA, IOSCO, ISDA and other regulators and market participants in reforming interest rate benchmarks, calendars and timelines

Sessions 3 and 4: Impact of LIBOR transition on global derivative markets

Sessions 5 and 6: Calculation of LIBOR, new risk-free rates, and new alternative reference rates and benchmarks. Key differences between IBOR and alternative reference rates, the challenges of tough legacy contracts

Session 7 and 8: Best practice approaches to creating conduct and operational risk frameworks, spread adjustment and term rate calculations, response of cash markets to new contract language and legacy transactions and worked examples of LIBOR calculations and alternatives.

 

"Good insights. It will make my work more challenging as more assumptions will need to be made and more scenarios will need to be built in analyzing interest rates and trying to forecast future performance as much as this is feasible in a volatile environment."
Risk manager, European Bank, Cyprus
Overview

On 31 December 2021, the global reference interest rate (LIBOR) will be effectively “abandoned” and will no longer be the preferred reference interest rate. Local reference rates must be chosen and applied to relevant transactions: these must satisfy certain requirements such as be based on actual transactions rather than be subject to the whims of select banks’ opinions, be risk-free (or closely risk-free) etc.

Currently, LIBOR is connected to many USD trillions worth of transactions globally – untangling these and reconnecting them to local rates will be a difficult and non-trivial task.

Delegates will learn how few institutions are ready for the transition and that understanding what the process involves is critical to all financial institutions.

"How well did the trainer know the subject? Excellent."
Risk manager, Capital Markets Authority, GCC
Who Should Attend

While the course is designed primarily for risk managers, quantitative analysts, model builders and validators, derivative traders and analysts previous delegates include those from internal audit, operations, IT, legal, HR, consulting firms and software vendors.

Additional Course Information

What Does It Cover?

History, development, and current issues with LIBOR, The efforts of the Federal Reserve, FSA, IOSCO, ISDA and other regulators and market participants in reforming interest rate benchmarks, The impact of the LIBOR transition on global derivative markets, Calendars and timelines, Calculation of LIBOR, new risk-free rates, and new alternative reference rate benchmarks, Key differences between IBOR and alternative reference rates, Challenges of tough legacy contracts, Best practice approaches to creating conduct and operational risk frameworks, Spread adjustment and term rate calculations, Response of cash markets to new contract language and legacy transactions and much more.

Learning Objectives

Presented by a highly-qualified risk expert, quantitative specialist and banker/asset manager: yes the new rules are important but more so is discovering the impact and the practical, real-life challenges of implementing the new guidance.

At the at the end of the course, delegates will gain knowledge, skills, techniques and approaches enabling them to answer

  • What are the current rules governing LIBOR and its implementation?
  • What are the problems, why is the world abandoning this rate?
  • What are the proposed solutions? Why are these difficult to implement and agree upon?
  • What is influence of LIBOR on global transactions (currently) and what may be the impact of the abandoning of the rate?
  • What could local rates look like – how will interest be calculated using these, what are the challenges?
Social Learning & Methods

Highly interactive expert-led intensive presentation, Q&A, using real-time Excel-based spreadsheet examples and case studies (available via email after the course is completed), reference to regulation and discussion supported by key principles and theory.

The virtual learning platform uses safe, industry preferred encrypted Cisco WebEx to optimize live face-to-face visual interaction, discrete chat, for polling and quizzes. (An invitation via email with access link is included for all participants.)

Registration

Sale

NEW Replacing LIBOR with Alternative Interest Rates – Understanding the Changing Market Based Interest Rates

Course Fee

Early Bird Discounts of 10% available by May 15, 2021

Course Fee (per person):
GBP £2,245.00 (+ UK VAT when applicable)

Number of delegates:

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