The financial services industry is transitioning about from LIBOR and other IBORs to SOFR (Secured Overnight Financing Rate). This move marks the end of a 40-year long IBOR (inter-bank offered rate) era and comes with many challenges as financial institutions grapple with this critical change. Roy Choudhury, Principal, Ernst & Young will host. Join PAFP's August 27 Webinar on this important topic.

Description of presentation:

• Interest rate benchmark reform, case for transition away from LIBOR
• Alternate Reference Rate Committee (ARRC) - mandate
• Overview of SOFR
• Fallback language
• Progress till date on transition
  • Publication of SOFR
  • SOFR derivatives
  • SOFR Issuances
  • Fallback language
• Key transition challenges
• Recommendations for transition readiness

Speaker:

Roy Choudhury is a Principal in the Financial Services Advisory practice at EY based out of New York. He leads the Capital Markets sub-sector and co-leads the Financial Services – Treasury & Liquidity team. In his role he is responsible for the go-to market strategy and service offerings to the largest sell-side sales and trading firms in the US. He also leads EY’s Global Service Offering related to IBOR Transition and is a member of the Alternate Reference Rate Group (ARRC) sub-working group on Client Outreach and Communication. Roy assisted International Swaps Dealers Association (ISDA) and other trade associations in conducting a global survey on IBOR footprint, transition challenges, and readiness in 2018. To conduct the survey EY conducted more than 100+ interviews globally with a range of financial market participants. He has extensive experience in working with financial services firms across US, UK, Europe, Singapore, Hong Kong and China. He holds an MBA (Finance) from Melbourne Business School and is a member of The Institute of Chartered Accountants of India.

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