IBOR transition: Institutional Clients
Deutsche Bank’s priority in the lead up to December 2021 is to continue to provide products and services to its clients, to facilitate the transition of existing transactions to new RFRs and to support the required changes to legal documentation to ensure an orderly transition to the new risk-free rates.
The bank has been working to make sure that it is ready. It has committed significant resources to the task, with a Benchmark Transition Programme having been set up in 2017, along with robust governance to coordinate efforts on impact assessments, risk mitigation and a smooth transition for new contracts and existing trades. The initiative includes subject matter experts from all areas of the bank and across all products and markets.
In addition, the Bank participates in a number of public and private sector working groups such as the Sterling Risk-Free Rate Working Group, the Alternative Reference Rates Committee in the United States and the Working Group on Euro Risk-Free Rates, each of which is responsible for identifying the preferred risk-free rate for the relevant currency and planning transition to that risk-free rate. This includes agreeing fallback approaches for use with both new contracts and existing legacy contracts.
Clients looking to transition existing IBOR-linked transactions to a new risk-free rate alternative should get in touch with their Deutsche Bank Sales contact as soon as possible.
For further information, please contact the Investment Bank’s Benchmark Reform transition team.