The Federal Home Loan Bank of New York is pleased to present our new podcast series,
“The Great Transition: LIBOR-SOFR.”
In episode 1, “LIBOR Transition is a Journey, Not an Event,” Thomas Settino, FHLBNY Vice President and Director of Member Relations, and Rei Shinozuka, Head of the Benchmark Index Transition Office at the FHLBNY, summarize the history behind the London Interbank Offered Rate (LIBOR) and what you can expect as the industry transitions to the Secured Overnight Financing Rate (SOFR). As noted in the Securities and Exchange Commission Staff Statement on LIBOR Transition on July 12, 2019:
“The expected discontinuation of LIBOR could have a significant impact on the financial markets and may present a material risk for certain market participants.”
In episode 2, “Federal Home Loan Banks: Leading the Charge,” Rei and Thomas discuss the FHLB System’s major role in the transition from LIBOR to SOFR.
No matter the size of your institution, it is important to stay abreast on the topic. Therefore, we hope you find this discussion insightful as you prepare your institution for the changes to come.
Stay tuned next week for the release of two more episodes!
Speakers
Thomas Settino
VP, Director of Member Relations
Rei Shinozuka
Head of the Benchmark Index Transition Office
Adam Goldstein
SVP, Chief Business Officer