Regulators | |
Regulators | |
848 VIEWS | |
![]() |
Wednesday, July
31, 2019 03:30PM / IOSCO
The Board of the International Organization of Securities Commissions (IOSCO) today published the Statement on Communication and Outreach to Inform Relevant Stakeholders Regarding Benchmarks Transition. The Statement seeks to inform relevant market participants of how an early transition to Risk Free Rates (RFRs) can mitigate potential risks arising from the expected cessation of LIBOR.
IOSCO wishes to raise awareness of the impact of LIBOR’s likely cessation and the need for relevant stakeholders to transition from the widely used USD LIBOR to RFRs – particularly to the new US Secured Overnight Financing Rate (SOFR). Raising awareness is important to facilitate prudent risk management across corporate and financial institutions and mitigate potential financial stability and conduct risks.
This Statement is important for all market participants that
have significant exposure to the USD LIBOR benchmark through, for example, the
trading of financial instruments and other arrangements that reference this
benchmark directly. It is also relevant to participants that reference another
rate which, in turn, uses USD LIBOR as an input for its calculation.
Related News
1. The World
Federation Of Exchanges Responds To IOSCO’s Consultation On Crypto-Asset
Trading Platforms
2. Policy
Challenges and Research Opportunities in the Era of Big Data
3. The WFE Issues
Position Paper On Importance Of Valuing Stock Market Data Correctly
4. CBN Licences
Three New Banks
5. Basel Committee,
IOSCO Agree to 1-yr Extension of the Implementation Phase of the Margin
Requirement
6. Statement On
IOSCO Liquidity Risk Management Recommendations For Investment Funds
7. Banking Sector
Update - Reviewed SDF Guidelines: Clear Intent; Minor Impact
8. CBN Delivers
Another News On Standing Deposit Facility of Nigerian Banks
9. CBN Issues
Guidelines on Accessing Standing Deposit Facility; Effective Thursday July 11,
2019
10. CBN Releases
Modalities For The Implementation of The Creative Industry Financing Initiative
11. DMBs No Longer
Require Prior Approval From CBN To Offer Mobile Money Wallet Services
12. CBN’s New
Minimum LDR Requirement May Worsen NPLs