5.8.20
Small banks are forced to put LIBOR transitions on hold due to the coronavirus liquidity crunch, throwing off plans to switch the market to new risk-free rates by the end of 2021. While larger banks have transition teams, smaller firms have to divert resources during economic panics, and have trouble completing transition work on time. Jason Granet, head of LIBOR transition at Goldman Sachs said “in this environment, [attention paid] to LIBOR shrinks to zero” in a Risk.net panel discussion on May 6.
Read More via Risk.net Here.