Event Registration

LIBOR Transition

Description:

Register by August 28th and take advantage of our Early Bird Pricing!

All registrations to Compliance Resource webinars include five live connections AND the recording of the webinar (guaranteed for one year).

WHAT?

Many financial institutions make consumer loans, residential mortgage loans, and commercial loans with pricing based on the London Inter-Bank Offered Rate (LIBOR). In 2017 the United Kingdom’s Financial Conduct Authority (the regulator that oversees the LIBOR panel) announced that, by the end of 2021, it will discontinue the index.

All financial institutions that that offer or service variable-rate loans with a LIBOR-based rate must plan a transition to another index. New loans should be originated with a substitute index. Existing loans need to be refinanced or modified with a substitute index. Existing loans should have fallback language that outlines the process of selecting a replacement index when an existing index is discontinued.

The board and senior management need to be informed of the pending discontinuation of the index and the planned process for implementing a replacement index. Policies and procedures should be adopted and impacted staff members need to be trained.

WHY?

This program explains LIBOR, why it is expiring, how to select a replacement index and issues related to the transition process.

Participants receive a detailed manual that serves as a handbook long after the program is completed.

TOPICS

Upon completion of this program participants understand:

  • What is LIBOR;
  • Why LIBOR is expiring;
  • How to select a replacement issue;
  • Contract issues related to the transition;
  • Compliance issues related to the transition;
  • The process for managing the index transition including developing timelines, policies and procedures; and
  • The Frequently Asked Questions regarding the LIBOR transition recently issued by the CFPB;

WHO?

This program is designed for members of the board of directors, managers of all departments that originate variable-rate loans using LIBOR as the index rate, bank counsel, compliance officers, loan officers, auditors and others with responsibilities for originating new LIBOR-based loans, or modifying existing loans that have LIBOR-based rates.

 PRESENTER

Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 44 years. In 39 years as a trainer over 147,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner.  He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.

*This program will start at 2:00 PM EDT, 1:00 PM CDT, 12:00 PM MDT, or 11:00 AM PDT

**All registrants receive a recording of this session.

Register by August 28th and take advantage of our Early Bird Pricing!

Price: $325.00

Start Time: 2:00 pm
End Time: 4:00 pm

Date: September 23, 2020

Registration Details

Personal Information