How To Approach SOFR in the Waning Days of LIBOR
How to Approach SOFR in the Waning Days of LIBOR We are approaching the LIBOR endgame. While the end-2021 deadline was moved to June 30, 2023 for LEGACY LIBOR transactions, financial institutions regulated by the banking agencies will not be able to write new LIBOR loans after December 31, 2021. In fact, they have been told to stop writing LIBOR transactions “as soon as is practicable.” Under this backdrop, market participants are increasingly focused on how to calculate SOFR: Will market participants be able to access term SOFR rates? If so, when? Instead of waiting for the development of term rates, how should market participants calculate SOFR? Compounding overnight SOFR “in advance” or “in arrears”? Our panelists will discuss the current outlook regarding future term SOFR rates and how institutions should best navigate a somewhat uncertain environment. Moderators: Raj Aidasani, Senior Director, Research, CRE Finance Council Sairah Burki, Managing Director, Regulatory Policy, CRE Finance Council Panelists: To be announced. Date: Tuesday, March 23rd 4:30pm - 5:30pm ET Registration Rates: Complimentary - Members $25 - Non-Members Media: Note that this webinar is closed to press.
How to Approach SOFR in the Waning Days of LIBOR
We are approaching the LIBOR endgame. While the end-2021 deadline was moved to June 30, 2023 for LEGACY LIBOR transactions, financial institutions regulated by the banking agencies will not be able to write new LIBOR loans after December 31, 2021. In fact, they have been told to stop writing LIBOR transactions “as soon as is practicable.” Under this backdrop, market participants are increasingly focused on how to calculate SOFR:
- Will market participants be able to access term SOFR rates? If so, when?
- Instead of waiting for the development of term rates, how should market participants calculate SOFR? Compounding overnight SOFR “in advance” or “in arrears”?
Our panelists will discuss the current outlook regarding future term SOFR rates and how institutions should best navigate a somewhat uncertain environment.
Moderators:
Raj Aidasani,
Senior Director, Research, CRE Finance Council
Sairah Burki,
Managing Director, Regulatory Policy, CRE Finance Council
Panelists:
Anthony Bulic, Senior Vice President and CMBS Pricing, Hedging & Analytics Manager, KeyBank Real Estate Capital
David Burkholder, Partner, Cadwalader, Wickersham & Taft LLP
Gary Horbacz, Principal, PGIM Fixed Income
Priya Misra, Head of Global Rates Strategy, TD Securities
Ameez Nanjee, Vice President - Asset Liability Management & Assistant Treasurer, Freddie Mac
Nathaniel Wuerffel, Senior Vice President, Federal Reserve Bank of New York
Date:
Friday, March 26th
12:00pm - 1:00pm ET
Registration Rates:
Complimentary - Members
$25 - Non-Members
Media:
Note that this webinar is closed to press.