EY RMA LIBOR - Accounting and Finance and Legacy Contracts On Demand

Accounting and Finance
This session will discuss a wide range of topics relevant to banks' finance functions related to LIBOR transition, including discussions on hedge accounting, contract modifications, tax and other considerations related to financial reporting. 

Speakers: 
Fran Garritt, Director, RMA  
Barry Barretta, Executive Director, Ernst & Young LLP
Michael Sheptin, Principal, Ernst & Young LLP 

Objectives: 

• Learn what types of contract modifications will be impacted by the LIBOR transition and the impacts on hedge accounting and revenue recognition.
• Learn how the move to ARRs could impact tax accounting and financial reporting for US firms.

Legacy LIBOR contract remediation 
This session will discuss strategies and infrastructure enhancements to manage legacy contracts such as modifying fallback language and amending base rates. This will include a discussion on the proposed legal and regulatory approaches for discontinuing LIBOR publication and handling legacy contracts.  

Speakers: 
Fran Garritt, Director, RMA  
Barry Barretta, Executive Director, Ernst & Young LLP
Michael Sheptin, Principal, Ernst & Young LLP 

Objectives: 

• Understand the tactics to modifying fallback language and amending base rates.
• Understand risk management and infrastructure enhancements needed to successfully digitize, extract contract information, and remediate legacy contracts.
• Determine how the proposed ICE LIBOR cessation plans and NY state or Federal legislation will impact your contracts and how your firm should consider the impacts on your portfolio