Efficient LIBOR Transition with Intralinks Solutions
Secure document exchange, artificial intelligence integration, efficient workflow
Financial regulators extended the expiration of USD LIBOR for certain contracts through June 2023, but December 2021 was the deadline for banks to stop using LIBOR in new contracts. This means that many banks and debt issuers are still under pressure to address an enormous number of contracts including over USD 15 trillion worth of USD legacy contracts that expire after June 2023, and those for all other LIBOR currencies (including GBP, CHF, EUR, JPY). This volume of documentation poses severe challenges with review, secure collaboration and distribution, and reporting.
Intralinks – the same ultra-secure virtual data room (VDR) already security vetted by major banks for capital markets transactions – offers an innovative LIBOR solution to empower banks, legal, risk, finance and other involved teams efficiently and securely share millions of loan documents, identify affected contracts, collaborate on necessary updates, and meet the June 30, 2023 deadline.
Contact us for more information on how our VDR can help your institution streamline and successfully manage LIBOR transition.
The deadline to stop using LIBOR in new contracts has passed. Certain legacy contracts and LIBOR tenors have time to transition to new rates.
| Intralinks for LIBOR transition | |||
| Task | Functionality | Standard Solution |
Custom Solution |
|---|---|---|---|
| Set up VDRs: centralize, protect and classify documents | Collect, centralize, index, encrypt and classify all potentially affected loan contracts |  |
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| Automate collection, OCR, indexing, classification, encryption and permissions for large volumes of contracts | |
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| Grant access and manage permissions | Instantly and securely permission LIBOR, legal and other teams to access all or specific folders or documents | |
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| Collaborate securely | Advanced encryption protects documents in transit and at rest | |
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| Granular audit trails and compliance reporting capture all activities | |
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| Artificial Intelligence (AI) tool integration to determine which contracts mature before/after the 2021 deadline | |
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| Track progress | Dashboards help teams stay on top of reviews and updates across the LIBOR transition process | |
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| Complete all contract reviews and updates | Meet the FCA deadline of December 31, 2021 | |
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