ASIFMA Publishes IBOR Transition Guide for Asia

The guide provides an overview of issues for FIs to consider in their LIBOR transition programmes and an implementation checklist.

ASIFMA has published an IBOR Transition Guide for Asia, co-produced with the APLMA (Asia Pacific Loan Market Association), ICMA (International Capital Market Association), and ISDA (International Swaps and Derivatives Association), and co-authored by Deloitte and Morgan Lewis.

The IBOR Transition Guide for Asia provides an overview of key implementation issues Asian financial institutions (FIs) should consider in preparing to transition from the LIBOR in all its tenors and currencies to alternative reference rates (ARRs) by end-2021.

> ALSO READ: HKMA Sets Out Key LIBOR Transition Milestones for Banks (13 Jul 2020)

The guide includes a practical implementation checklist for FIs to use as a reference when assessing the impacts of benchmark reforms.

The checklist covers:

  • programme governance
  • transition management programme
  • communication strategy
  • identification and validation of IBOR exposures
  • product strategy development
  • risk management
  • transition of existing and new contracts
  • operational and technology readiness
  • accounting and reporting
  • taxation

The guide also includes a set of key questions for FIs to consider in their LIBOR transition programmes, and a list of relevant resources for reference.

The full guide is available for download here.

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