Mayer Brown launches global IBOR transition task force

In anticipation of the imminent transition from the London Interbank Offered Rate (LIBOR) as a universal benchmark interest rate in 2021, and the global effort to find robust rates to replace LIBOR and other interbank offered rates (IBORs) underway, law firm Mayer Brown has launched a global multidisciplinary task force to provide advice on the latest market developments and most significant issues facing banks, companies and investors.

The firm’s cross-practice IBOR Transition Task Force is composed of more than 80 lawyers across the firm’s three regions – Asia, Europe and the Americas – and across eight practice areas. The global team of lawyers will keep pace with changes and provide timely updates, the firm said in a statement.

According to Jeremy Clay (pictured), Mayer Brown’s managing partner, “While efforts for an equitable and lasting solution are currently underway worldwide, this process is both complex—involving multiple regulatory regimes across dozens of countries and currencies—and one in which the stakes are enormous. Mayer Brown’s global presence, subject matter and product competence across various affected markets, and use of technology solutions, including artificial intelligence, to facilitate the timely collection, analysis and remediation of related contracts and other documents, uniquely enable the firm to provide clients with integrated and global IBOR transition solutions.”

You can visit the firm’s IBOR Transition webpage here for a repository of information on the background of LIBOR and other IBORs, the proposed IBOR benchmark replacements, the latest market developments, the team’s thought leadership and contact details for IBOR Transition Task Force members.