ACP 1 - The End of Inter Bank Offered Rates (IBOR)
The global financial services industry has been preparing for changes to key interbank interest rates. London Interbank Offered Rate (LIBOR), the benchmark interest rate at which major global banks lend to one another, and other interbank offered rates (IBORs) will be discontinued, to be replaced by Risk Free Rates (RFR). Major LIBOR rates will end panel bank submissions on 31 December 2021, while most US dollar LIBOR rates will end panel bank submissions on 30 June 2023. The Singapore Interbank Offered Rate (SIBOR) and Swap Offer Rates (SOR) will be transitioning to the Singapore Overnight Rate Average (SORA). This is a substantial, complex global change that will impact lending, bond and derivative contracts in major currencies across virtually all industries, including those in Singapore.
This session will provide participants a background to IBOR transitions with an update on the latest transition related market developments as well as an overview of accounting implication and relief provided by the International Accounting Standards Board (IASB).
Key Objectives
In light of these developments, the key objectives of this virtual session are to provide:
- A background to IBOR transition including SOR and SORA.
- Details of key concepts due to economic and operational differences between LIBOR and RFRs.
- An update on latest transition related market developments.
- Overview of accounting implications and relief provided by IASB.
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CPD Hours : 2
| SID Member: |
S$60.00 (excl. GST) |
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S$64.20 (incl. GST) |
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| Non-SID Member: |
S$90.00 (excl. GST) |
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S$96.30 (incl. GST) |
SID Corporate Member may utilise their complimentary vouchers.
(A notification email with the webinar link and password will be sent to registered participants 2 days before. Participants are advised to log in 5-10 minutes before the session.)
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Online registration not available.