ARRC Chair Wipf on the Libor Transition Marathon: ‘We Have Passed the Wall. We Hope We’re on the Downhill.’

# Benchmarking

# Foreign Exchange

Part one of a video interview by NeuGroup founder and CEO Joseph Neu with Tom Wipf, chair of the Alternative Reference Rates Committee, on what the ARRC and he have learned about Libor and what lies ahead as market participants switch to SOFR.

The transition away from Libor got a major boost in late July after the ARRC announced the recommendation of CME Group’s forward-looking Secured Overnight Financing Rate (SOFR) term rates, following the completion of a key change in interdealer trading conventions on July 26, 2021, under the SOFR First initiative.

With that backdrop, NeuGroup’s Joseph Neu sat down for a video interview this week with ARRC Chairman Tom Wipf to review the seven-year Libor transition marathon and look ahead to what has to happen to reach the finish line. Below is the first of several pieces of the interview NeuGroup Insights will post in the days ahead.