The Alternative Reference Rates Committee published a transition aid to help market participants—including banks—transition from the London Interbank Offered Rate to the Secured Overnight Finance Rate, the ARRC’s recommended alternative to U.S. dollar Libor. The document classifies transition activities into different categories and subcategories and lists transition steps and activities for each. It also discusses upstream and downstream areas that may be affected by the transition.
The document is intended for informational purposes only and does not constitute legal, accounting or financial advice or define regulatory or supervisory expectations. View the resource.