IBOR Reform

Following the financial crisis, the replacement of benchmark interest rates such as LIBOR and other interbank offered rates (‘IBORs’) has become a priority for global regulators. The Financial Stability Board’s July 2014 report ‘Reforming Major Interest Rate Benchmarks’ set out recommendations for the reform of certain benchmarks. As a result, many jurisdictions are in the process of transitioning to alternative benchmark rates. The reforms aim to achieve a shift away from individual quotes to observed transaction rates, and to increase the population on which those rates are based. Since the changes are market driven, there remains some uncertainty around their timing and precise nature. This page focuses on the implications of IBOR reform for financial reporting under IFRS.

SME contact

Elizabeth  Dicks

Elizabeth Dicks

Senior Manager

PwC

Elizabeth Dicks

Senior Manager
PwC

07483434263

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