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Past Event
9 May 2013


  • David K. Duffee
    T +1 212 506 2630
  • Barbara M. Goodstein
    T +1 212 506 2264

Benchmark Rate Reform: Orderly Transition or Chaos and Confusion?

In the wake of several widely reported LIBOR and other benchmark rate manipulation scandals, and the resultant official inquiries and investigations, policymakers have responded with varied attempts at benchmark rate reforms. As of May 2013, most of these remain works-in-process.

Please join us for our next GFMI teleconference where we will briefly discuss some of the recent reform activities and the problems that these reforms have created in the marketplace. The discussion will include the following topics:

  • Understanding LIBOR, how it is used and how it has been manipulated
  • The Wheatley Review of LIBOR and its Final Report
  • Response of the British Bankers Association—elimination of currencies and tenors
  • The Consultative Paper of the International Organization of Securities Commissions (IOSCO)
  • The effect on existing loan document provisions
  • Market reaction—how are loan documents being revised

Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.

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