IBOR transition

The reform of interest rate benchmarks is one of the biggest changes to financial markets of the last decade.

Whether you are a family business funding your expansion; a university graduate with a long-term loan, an exporter protecting against interest and currency rate fluctuations, or a pension fund planning for the future, IBOR transition will affect your financial products.

As one of the largest global banks, Deutsche Bank is committed to supporting its clients and the industry and helping to deliver a smooth transition. The bank is focused on continuing to offer clients the products and services they need and collaborating with counterparties and other stakeholders, as we transition to the new alternative Risk Free Rates (RFRs).

Following cessation of 24 LIBOR settings as-of end 2021 (read announcement from Financial Conduct Authority (FCA)), industry focus is now on transition of the U.S. dollar LIBOR settings that cease after 30 June 2023.

We strongly encourage clients to get in touch as early as possible to discuss if their products are affected, options available and to answer any questions. Proactive transition is recommended or, as a minimum, update fallback provisions in legacy U.S. dollar LIBOR contracts ahead of the June 2023 cessation date. The ARRC (Alternative Reference Rates Committee) has selected SOFR (Secured Overnight Financing Rate) as its endorsed replacement rate for U.S. dollar LIBOR (read ARRC recommendations).

For further information please read IBOR transition FAQs.

Thank you.

Deutsche Bank IBOR Transition Team

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