LIBOR has been called the world’s most important number, which is why getting the entire financial system to move away from LIBOR is such a herculean effort. In this episode, Manuel Frey and Jane O’Brien discuss the role of regulators in facilitating an orderly transition away from LIBOR, the strengths and weaknesses of regulators’ preferred alternative to LIBOR, and the potential for rival benchmarks to gain traction. Manuel is a partner at the law firm of Paul Weiss, where he focuses on a broad-based cross-border OTC derivatives, structured products and hedge fund practice. Jane is partner and co-deputy chair of the Securities Litigation and Enforcement Group at Paul Weiss. She advises financial institutions and other market participants with respect to managing risks associated with the anticipated cessation of LIBOR.
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