Monticello Attends Launch of SOFR Summer Series

The Monticello Team attended a webinar hosted by the Federal Reserve Bank of New York and the Bank of England this week titled LIBOR: Entering the Endgame. Andrew Bailey, Governor of the Bank of England, joined John Williams, NY Fed President, and other participants and reiterated the continued importance of a timely transition from LIBOR, the need to shift to more robust alternative reference rates, and the endgame for LIBOR. The presenters reiterated their stance that LIBOR transition needs to progress according to the original timeline, especially in light of the recent Covid-19 triggered market volatility. During the week at the end of March, term LIBOR rates represented no more than educated guesses, given a complete absence of actual market transactions.  We look forward to future events and continuing to support our clients to ensure market readiness!