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IBOR transition

The London Interbank Offered Rate (LIBOR), which is the globally recognised base rate for pricing financial instruments in USD, GBP, EUR, JPY and CHF currencies, may cease to be quoted after December 2021.

It's important for users to understand and quantify their exposures to LIBOR and start considering transition to alternatives, which may involve a substantial amount of work and a careful examination of the risks involved.
 

Westpac has a number of resources that can help. We have an IBOR Transition Team that is managing how Westpac responds to the changes. Questions can be emailed to the IBOR transition team at Iborupdates@westpac.com.au.
 

Customers should also seek their own legal, accounting, tax and other commercial advice in relation to the impending changes.

IBOR - what you need to know and do

Often called the “world’s most important number”, LIBOR rates is a cornerstone of global banking with over US$370 trillion in products referencing it, and it underpins millions of contracts ranging from complex derivatives, to corporate loans, and residential mortgages (in certain countries).

Find out what you need to know and do.
 

IBOR Transition. Are you ready?

There is widespread recognition that LIBOR (and other IBORs) may be discontinued in the near future. It's important for users to understand and quantify their exposures to LIBOR and start considering transition to alternatives, which may involve a substantial amount of work and a careful examination of the risks involved. 

Find out more
 

IBOR - the long kiss goodnight

Reforms are currently underway to strengthen interest rate benchmarks which could represent one of the biggest changes ever to occur to financial markets.

Find out more

Things you should know

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