Good morning, and welcome to ISDA’s benchmark symposium.
This event comes at an opportune time. Next week, the Alternative Reference Rates Committee, or ARRC – a US public-private sector working group led by the Federal Reserve Bank of New York – will announce its choice for a risk-free rate that could be used as an alternative to US dollar LIBOR for certain transactions in future. With similar groups in the UK and Japan already settling on their choice of risk-free rate, attention will start to focus more and more on market transitions to these alternative rates.
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