CASE STUDY Analyzing loan agreements linked to the LIBOR transition for a legal client LIBOR From 2021, the Financial Conduct Authority intends to no longer persuade or compel banks to submit to LIBOR. Financial institutions must now take appropriate action to adhere to new regulations. LIBOR’s transition potentially impacts over $350 trillion of contracts and requires all LIBOR transactions to be examined and most likely repapered. LIBOR is embedded in every asset class – mortgages and retail loans, to commodities, derivatives, bonds and securities. Legal organizations are managing multi- workstream programs to assist their financial services clients in this transition. The legal client needed to analyze around 150 loan agreements that were each several hundred pages long.

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