Transitioning from the London Interbank Offered Rate to the risk-free rate alternatives such as SONIA and SOFR was at one time a recommendation but is becoming a requirement, as the FCA’s LIBOR support will cease at the end of 2021. Transitions spell challenge, and this is true of the bond market as it faces LIBOR’s demise. What are some potential solutions that bond issuers should consider, especially for legacy bonds?
President Jair Bolsonaro assumed Brazil’s highest political office on January 1, 2019. From mid-2016 to the end of 2018, a team of experts worked diligently to improve Brazil’s integration with the global economy in such areas as relations with international organizations, domestic framework for officially supported export credits and trade policy. Their initiatives provide the new administration with a strong path to prosperity through reduction of lingering barriers to international inclusion.
Infrastructure that is up to code is vitally important to sustaining a country’s economy, but even developed countries are falling behind in their infrastructure investment. Effective infrastructure investment needs to be a combined effort of governments, multilateral development banks and private investors, but it lags behind in its appeal to private investors. What measures can be taken to draw more private-sector financing into this crucial foundation of economic growth?
All over the world, regulations have been implemented to protect economies, especially following the major recession 10 years ago. But unfortunately they have not always been executed in concert, leading to costly regulatory fragmentation. Banks have been particularly hard hit by the costs of compliance to misaligned regulation, with resources being drained away from more productive areas. But there are ways to mend these divergences, starting with cooperation between regulators.