Capital Markets: Top Stories
The transition of most of the global financial markets away from Libor and the adoption of risk-free rates is finally upon us. As the clock counts down to the demise of Libor for all new contracts, the focus is firmly on where the sticking points remain: the ‘tough legacy contracts’ and the US dollar loan market.
The whole world must deal with Libor transition, but the situation is especially complex in Asia. Each jurisdiction has a different approach to benchmarks, and several countries are going to end up with multiple rates. On top of that there are big questions about liquidity. So, is Asia ready?