Dechert LLP LIBORCast Interviews MBA’s Mike Flood

Last week, as part of Dechert LLP’s ongoing LIBORcast podcast series, Rick Jones, partner and co-head of Dechert’s Global Finance Practice, interviewed MBA’s Mike Flood on the LIBOR transition.

The discussion focused on how the industry is preparing for the transition, the shift to lending based on the Secured Overnight Financing Rate (SOFR) and how MBA’s LIBOR Outreach Committee is bringing key industry players together well ahead of LIBOR’s discontinuation, likely by the end of next year. Listen to the podcast interview here.

The London Interbank Offered Rate, or LIBOR, serves as the primary interest rate benchmark across numerous financial products, including floating-rate mortgages. But due to structural weaknesses in the benchmark that made it susceptible to manipulation during the last financial crisis, regulators have called for markets to transition to more resilient benchmarks. As a result, LIBOR is likely to be discontinued in late 2021, or perhaps even sooner.

For additional information on MBA’s work on the LIBOR transition, contact Andrew Foster at (202) 557-2740.