LIBOR’s Last Year: An Update on the Transition from LIBOR Heading into 2021

The transition from the U.S. dollar (USD) London Interbank Offered Rate (LIBOR) to the more robust secured overnight financing rate (SOFR) for use in USD derivatives and other financial contracts, scheduled for year-end 2021, represents a departure from the benchmark that has dominated lending for several decades. At the recent RMA Securities Finance and Collateral Management Virtual Summit, Keynote Speaker Thomas Wipf, vice chair of Institutional Securities at Morgan Stanley and chair of th…