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Replacing LIBOR: The End of the World's Most Important Number

Date: Thursday, September 19, 2019
Time: 1:00-2:30 pm EST

Sponsored by Lorman Education Services


Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00

Gain a better understanding of how LIBOR met its timely end and how market participants should prepare for the 2021 decommission of the prominent benchmark.

The London Interbank Offered Rate (LIBOR) is an interest rate benchmark used in transactions valued in the trillions of U.S. Dollars. The LIBOR rate is scheduled to be no longer available starting in calendar year 2022.

The loss of the benchmark requires bankers and lawyers to understand how this will affect existing transaction documentation as well as the proposals to address the loss of LIBOR in documentation for new transactions.

Learning Objectives:

  • You will be able to explain the problem of the loss of the LIBOR benchmark interest rate.
  • You will be able to identify the way in which practitioners are currently dealing with the impending loss of LIBOR.
  • You will be able to review critically LIBOR replacement provisions in loan documents.
  • You will be able to discuss language to address LIBOR transition concerns.

This Live Webinar Covers These Hot Issues:

How Is LIBOR Used?

  • Theory of Bank Finance
  • LIBOR as a Benchmark
What Is LIBOR?
  • History
  • ICE
  • Scandals
  • Impending Demise
How Is LIBOR Determined?
  • Reference Banks
  • ICE
  • Payment Conventions
The Ubiquity of LIBOR The End of LIBOR The Rise of SOFR
  • The U.S. Fed
  • The AARC
  • The LSTA
Problems With SOFR
  • Overnight Secured Rate (vs. Cost of Funds)
  • Lack of Substance/Conventions
  • No Match Funding
Transition Issues
  • LSTA Approaches
  • Other Approaches
  • Current Technology
  • Existing Contracts With No Failsafe
  • Sample Language

Credit Information (Sponsored by Lorman Education Services)

  • CLE
  • CPE
  • NASBA

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Faculty

Ronald Scheinberg, Vedder Price

  • Shareholder in Vedder Price's New York office
  • Practice largely involves the representation of banks and other financial institutions in the financing of commercial aircraft
  • Conducts regular seminars and workshops on numerous topics concerning aircraft finance, including as to loan pricing
  • Has written extensively on aircraft financing matters, including as to loan pricing
  • Earned numerous distinctions and rankings in his industry
  • Received the highest rankings possible in Chambers USA in the categories of Nationwide Transportation: Aviation: Finance; New York Banking & Finance: Equipment Finance & Leasing; and Nationwide Banking & Finance: Equipment Finance & Leasing
  • J.D. degree, Harvard Law School; B.A. degree, Brown University
  • Can be contacted at 212-407-7730 or rscheinberg@vedderprice.com

(Not available outside the US)