The ARRC hosted a roundtable at the Federal Reserve Bank of New York on November 2, 2017. The event covered the work of the ARRC, including its recommendation of the Secured Overnight Financing Rate as a robust alternative rate to U.S. dollar LIBOR, and details of its paced transition plan. Additionally, representatives of both ARRC and non-ARRC member firms discussed how the risks around LIBOR—highlighted in a speech by Andrew Bailey, Chief Executive Officer of the United Kingdom’s Financial Conduct Authority—may impact not only the interest rate derivatives market, but also a wide range of other financial products and markets.
- Introductory remarks by Federal Reserve Board Governor Jerome Powell
- Presentation slides by ARRC Chair Sandra O’Connor
- Presentation slides and underlying data by Joshua Frost, Federal Reserve Bank of New York
- Presentation slides by Scott O’Malia and Katherine Darras, International Swaps and Derivatives Association
- Presentation slides by David Bowman, Federal Reserve Board of Governors