The Working Group on Sterling Risk-Free Reference Rates (Working Group) has published a communication pack entitled ‘Preparing for 2022: what you need to know about LIBOR transition’.
The pack is designed to inform readers about the transition from LIBOR to SONIA and covers the following areas:
- the problem with LIBOR;
- why SONIA is the preferred alternative;
- what firms should be doing;
- the role of the Working Group;
- transition challenges;
- Working Group milestones; and
- what’s happening internationally
The pack will be updated periodically to reflect relevant updates.