The Monticello team attended Part One of the CFA Society of New York's LIBOR Transition Series yesterday. This roundtable virtual discussion included a distinguished group of panelists discussing the current state of the LIBOR transition and the challenges that exist. In addition, this discussion included key operational considerations market participants can take from a technology standpoint to mitigate risks and financial losses. With the USD LIBOR extension of 5 of the 7 tenors announced earlier this year, the group of panelists shared key insights on documentation review and renegotiation tactics to assist in transitioning from USD LIBOR to SOFR. This included recommendations on how to amend fallback language provided by the ARRC and how to deal with the complexities found in loan contracts. The Monticello team continues to support and advise our clients on the LIBOR transition to ensure they receive the latest and most up to date market information as possible to ensure readiness.
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