Accelerating LIBOR compliance through automated regulatory framework | HCLTech

LIBOR, London Inter-bank Offer Rate was often subjected to manipulation and scandal making it less credible as a benchmark rate. This led to a regulatory mandate to move towards alternative Risk-Free Rates (RFR) by 2021. The transition process did not come without its own set of challenges. This is where technology services providers had to step up in assisting the financial institutions to swiftly make this transition. This case study outlines how HCLTech enabled one of the leading global banks to comply with the LIBOR transition. There were several prerequisites that had to be completed before the actual transition journey could begin. Therefore, HCLTech  jointly drafted and executed a layered approach (transition states) for the LIBOR transition along with the bank. Read the case study to know more.