Virtual Investors’ Conference on LIBOR
Virtual
September 29, 2020

Description

The global capital markets industry continues to work on the LIBOR transition, despite current Covid-19 market upheaval, and the regulatory message remains firm that LIBOR will be on its way out year-end-2021. Progress has been made and 2020 has become a tipping point as we move from planning to implementing the transition.

IMN’s Virtual Investors’ Conference on LIBOR, taking place September 29, will provide a platform to help educate investors, borrowers and industry participants on the adoption of jurisdictional alternative reference rates between both the U.S. and Europe, and prepare for a liquidity shift in the market.

Our morning sessions will have a European focus and afternoon on U.S., to help prepare the global structured finance industry with best practices and work with vendors to better the transition from an operational perspective, and avoid contractual reliance on a benchmark that will no longer represent a future market.

Who Should Attend
  • Regulators
  • Fixed Income Investors
  • Issuers Funding via Debt Capital Markets
  • Underwriters/Structurers
  • Rating Agency
  • Analysts
  • Trustees
  • Servicers Technology Platform Providers
  • Analytics Firms

Conference Highlights

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Agenda

    Tuesday, September 29th, 2020

      All live session times will be in EST



      8:25 AM
      IMN Welcome Note and Keynote Speaker



        • Lauren Kerr, Director of Programming (IMN)
        • Michael Held, General Counsel and Executive Vice President, Legal Group (Federal Reserve Bank of New York)

      9:00 AM
      The Tipping Point is Here: Creating a Pace of Change

        • Key milestones achieved and what lies ahead for the remainder of 2020
        • Covering the angles: Currencies, products and industries
        • Why act now?
        • Compounding conventions and term rates: How to use an overnight rate for a 3-month interest period
        • Considerations for legacy contracts


        • Masako Oshima, Associate Managing Director (Moody's Investors Service)
        • Iain Budge, Director, UK & Ireland Origination & Solutions (NatWest Markets)
        • Christopher English, VP | Transaction Management Group (Deutsche Bank)
        • Giulia Franzutti, Principal Funding Officer (EBRD)
        • Jeremy Phillips, Partner (PwC)
      • Join Webinar

      10:00 AM
      Challenges for the Structured Finance Industry

        • What assets classes are going to suffer the most?
        • Mortgage origination: How to manage a fixed rate mortgage that will eventually lead to a reversion rate that is LIBOR linked?
        • What issues are seen in dealing with Sonia/SOFR SF bonds on the secondary market?
        • When will there be enough liquidity in the new risk-free rates to hedge liabilities effectively? What jurisdictions are steaming ahead?
        • Transition blockers: Cash markets, lack of indexes


        • Richard Hopkin, Managing Director & Head of Fixed Income, Capital Markets (Association for Financial Markets in Europe (AFME))
        • Rob Ford, Portfolio Manager (TwentyFour Asset Management)
        • Ola Hannoun-Costa, Senior Vice President - Head of US RMBS Surveillance (Moody's Investors Service)
        • Stephen Kudenholdt, Partner and Head of Structured Finance (Dentons)
        • Andreas Wilgen, SF Group Credit Officer, Credit Policy Group (Fitch Ratings)
      • Join Webinar

      11:00 AM
      Investors’ and Issuers’ Perspective

        • How has the liquidity around LIBOR linked bonds changed; are investors still buying LIBOR linked bonds in the primary and secondary markets?
        • Is this an issue for the Euro market as well as USD and GBP?
        • Mortgage originators: What challenges do mortgage lenders face?
        • What is the issuance appetite for ESTR? Is there a divided camp on the viability given ESTR linked bond issuance in FRN market, but less in the ABS market? What is the outlook on adoption?


        • Claire Hall, Partner, Co-head of Derivatives Practice, and Co-chair of LIBOR Transition Team (DLA Piper)
        • Alex Maddox, Capital Markets Director (Kensington Mortgages)
        • Christian Valencia, Vice President, SF CRT Capital Markets (Freddie Mac)
        • Edwin Wilches, CFA, Portfolio Manager (PGIM Fixed Income)
        • Deniz Yegenaga, Director (BlackRock)
      • Join Webinar

      12:00 PM
      Live Session Break



      12:30 PM
      Technology and System Model Processes

        • Leveraging AI and enhanced workflow tools for LIBOR analysis: Identification legacy position exposures, fallback identification, amendments and reporting
        • How can technology support mitigation of misconduct?
        • Will redevelopment of financial models have an effect on accounting standards and tax implications


        • Chris Kontaridis, Principal (PwC)
        • Dr. Simone Bohnenberger-Rich, Global Head of Financial Services (Eigen Technologies)
        • Peter Keevil, Sales Manager, Banking & Securities (Intralinks)
      • Join Webinar

      1:15 PM
      Operational Readiness in the Loan Market

        • How can treasury systems handle RFR methodologies? What is required for the loan market to catch up on the pace of issuance that the bond market seems to have better adapted?
        • How are the corporate banks completing the transition to SOFR from an operational perspective, and uncertainty of a shortened cash flow system? Preparing corporate partners for a shortened cash flow system
        • Challenges (and progress) from the perspective of a Loan/CLO Manager
        • Understanding ARRC’s Best Practice Recommendations for Loans & CLOs


        • Meredith Coffey, Executive Vice President of Research & Analysis (LSTA)
        • Michael Brown, Managing Director (Pearl Diver Capital)
        • Melanie Gnazzo, Partner (Chapman and Cutler LLP)
        • Tal Reback, Principal (KKR)
      • Join Webinar

      2:15 PM
      The Building Blocks are Now in Place: Contractual Fallback Language

        • How to avoid contractual reliance on a benchmark that is being phased out
        • Fall back rates and spread adjustments
        • Components of the fallback: Triggers and determination of the replacement benchmark to replace LIBOR


        • Tess Virmani, Associate General Counsel & EVP, Public Policy (LSTA)
        • Matthew Hays, Partner (Dechert LLP)
        • Jeanne Naughton-Carr, Managing Director & Associate General Counsel (BNY Mellon)
        • Neil Pallender, IBOR Working Group (ICMSA)
      • Join Webinar

      3:15 PM
      Checkpoint in the Derivatives Market

        • Derivative fallbacks 
        • Upcoming new ISDA derivatives docs (protocol) 
        • Associated value transfer in swaptions and discussions over compensation following the October discounting switch
        • Liquidity in SOFR derivative products
        • RFR fixes - both for term rates and for swap rates
        • Legacy trades


        • Geoffrey Goldman, Partner (Shearman & Sterling)
        • Phoebe Coutts, Benchmark Reform, Senior Lawyer (Secondee) (ISDA)
        • Joe Demetrick, Managing Director, Public Fixed Income | Derivatives (MetLife Investment Management)
        • Vikash Rughani, Business Manager triReduce (TriOptima)
      • Join Webinar

      4:15 PM
      End of Virtual Investors' Conference on LIBOR: Sessions will be recorded and available for 14 days post event



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  • Investor Rate - $195
  • Issuer Rate - $195
  • Standard Rate - $395
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Venue

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Speakers


1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


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