IFLR USD Libor Survey 2021 

libor survey

With just over two months to go until the Federal Reserve’s no-new-Libor resolution kicks in, time is running out for the US market to move away from Libor and adopt alternative risk-free rates. 

The authorities have been ramping up the pressure in recent weeks, with initiatives such as SOFR First – a phased initiative for switching derivatives trading conventions from Libor to the secured overnight financing rate (SOFR) – progressively kicking in. 

Meanwhile, criticism from regulators and the authorities on both sides of the Atlantic against credit-sensitive rates continues to intensify. Whether or not that will affect their growing popularity, however, remains to be seen. 

Against this backdrop, and with another year and a half to go until all USD Libor settings are definitively discontinued, we thought now was a good time to reach out to market participants to gauge their level of readiness. 

In this survey, we ask you questions relating to legacy contracts, to credit-sensitive and term SOFR rates use, to the authorities’ management of the transition, and to your overall state of progress. 

We look forward to receiving your responses and collating the data. There will be a follow up report based on your responses – which will, of course, remain anonymous.  

You can take the survey here 

The survey should only take a few minutes to complete. Thank you very much in advance for your contribution! 

Alice Tchernookova, Senior Reporter, IFLR and Practice Insight 

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Two of the seven USD Libor maturities discontinued at the end of 2021, and the other five – overnight, one, three, six and 12 months – will follow in June 2023, we surveyed the market to gauge readiness