LIBOR ceased to be published as a floating rate benchmark at the end of 2021 (except for USD LIBOR which continues to be published until June 2023).  Remediating IBOR based contracts presented the market with a significant challenge.

The transition from IBORs to alternate reference rates (ARRs) or risk free rates continues to have a considerable impact on the financial markets. Regulators have required regulated firms to understand the risks this poses to their business, remodel their systems and repaper legacy contracts to ensure smooth transition.

This resource hub includes updates, useful guides, briefings and events on navigating the transition from LIBOR around the world.

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    Digital Operational Resilience Act (DORA)

    Digital Operational Resilience Act (DORA)

    Tracks financial services regulatory developments and provides insight and commentary.

    United Kingdom | External | November 15, 2023
    Exclusion of ‘anticipated profits’ prevents a claim for lost revenue

    Exclusion of ‘anticipated profits’ prevents a claim for lost revenue

    Discussing the decision in EE v Virgin [2023] EWHC 1989 (TCC) which examined the scope of exclusion clauses and determined that a claim for "loss of revenue” was effectively a claim for loss of profits.

    United Kingdom | Blog | November 15, 2023

    Banking and finance disputes
    Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance and Rules taking effect in January 2024

    Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance and Rules taking effect in January 2024

    In November 2022, we issued a legal update on Mainland Judgments in Civil and Commercial Matters (Reciprocal Enforcement) Ordinance (Cap. 645) (MJREO)

    Hong Kong SAR | Publication | November 15, 2023

    Litigation and disputes
    Initial steps to take on discovery of a sanctions breach

    Initial steps to take on discovery of a sanctions breach

    Following the unprecedented levels of sanctions activity in response to Russia’s invasion of Ukraine, which has resulted in companies dealing with the most significant and complex sanctions regimes across multiple jurisdictions, authorities in the US, UK and EU are now turning their attention to enforcement of those sanctions.

    Global | External | November 14, 2023
    ECB speech – Regulating crypto finance: taking stock and looking ahead

    ECB speech – Regulating crypto finance: taking stock and looking ahead

    On 14 November 2023, the European Central Bank published a speech by Andrea Enria (Chair of ECB Supervisory Board) entitled ‘Regulating crypto finance: taking stock and looking ahead’.

    Global | External | November 14, 2023
    Legal privilege

    Legal privilege

    An important component of doing business is the ability to obtain open and candid advice from your lawyer without the threat that the advice received will have to be disclosed.

    Global | External | November 14, 2023


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    IBOR Transition for global banks

    Completing a review and repapering exercise, covering many thousands of commercial financial agreements.

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    LIBOR transition – Asia insights

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    Regulation Tomorrow: IBOR transition

    Tracks financial services regulatory developments and provides insight and commentary

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    LIBOR transition checklist

    Managing LIBOR transition will start with a full impact assessment covering all areas of your business that are exposed to IBOR. We have identified a checklist of key issues to consider when developing your IBOR transition strategy.

    IBOR checklist

    Download the checklist

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    A remediation solution for IBOR transition project teams

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