On 18 September 2018, the Loan Market Association (LMA) and the Association of Corporate Treasurers (ACT) published the second edition of their guide, The future of LIBOR: what you need to know (the Guide).

The Guide provides an overview of the developments of key issues with regards to the proposed transition away from LIBOR benchmarks. The Guide’s overview covers:

• the background to LIBOR reforms;
• the alternative risk-free rates being proposed to replace LIBOR benchmarks;
• key issues for financial markets, with focuses on loans, bonds / floating rate notes, and derivatives; and
• the various national working groups and means by which stakeholders can get involved in the transition process.