IBOR transition

A message from the Group Treasurer

Dixit Joshi, Deutsche Bank Group Treasurer, Member of the ISDA Board, Member of the Bank of England / Financial Conduct Authority, Senior Advisory Group for Sterling Risk Free Rate Transition

The approaching changes to the benchmarks used by the financial services industry to price products are a watershed moment for markets around the world.

Whether you are a family business funding your expansion; a student graduating from university with a long-term loan, an exporter seeking to protect yourself against fluctuations in interest or currency rates or a pension fund planning for the future, IBOR transition will lead to changes in the financial products you use.

As one of the largest global banks, Deutsche Bank is committed to playing its part in a smooth transition. We started our planning over three years ago and today we are fully prepared and ready to help clients and the industry.

Our priority is to ensure that we continue to offer clients the products and services they need, while also supporting them, along with counterparties and other stakeholders, as we transition to the new alternative Risk Free Rates.

The UK’s FCA confirmed on 5 March 2021 the dates that panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available:

  • immediately after 31 December 2021, in the case of all sterling, euro, Swiss franc and Japanese yen settings, and the 1-week and 2-month US dollar settings; and
  • immediately after 30 June 2023, in the case of the remaining US dollar settings.

I strongly encourage all our clients to get in touch as soon as possible to discuss how this transition may affect you or your business.

Thank you.

How Deutsche Bank is preparing

more IBOR Resources

Timelines, industry and regulatory news and glossary on the IBOR transition

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