RT Journal Article
SR Electronic
T1 LIBOR Replacement—<em>The Long and Winding Road</em>
JF The Journal of Structured Finance
FD Institutional Investor Journals
SP 28
OP 34
DO 10.3905/jsf.2019.25.2.028
VO 25
IS 2
A1 Thomas M. Hughes
YR 2019
UL https://pm-research.com/content/25/2/28.abstract
AB LIBOR is foundational to global markets, but its design makes it unsuitable for the many uses to which it is put, creating enormous regulatory pressure to retire LIBOR in favor of more suitable benchmarks. Replacing LIBOR, however, is throwing up a new set of risks for market participants, some of which have been foreseen, and some of which are emerging as the transition gets under way. This article anatomizes those risks and roots them in the history of modern finance.TOPICS: Fixed income and structured finance, information providers/credit ratings, risk management