Less than Half of Financial Services Firms Confident in Their Ability to Meet LIBOR Transition Deadline, Accenture Report Finds
Accenture plc Class A Ordinary Shares (Ireland) (ACN)
Last accenture plc class a ordinary shares (ireland) earnings: 3/19 06:44 am
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Source: Business Wire
Transition presents firms with the opportunity to undertake larger business transformation; those with “mature” transition plans see a revenue opportunity NEW YORK--(BUSINESS WIRE)--While most banks, insurers and capital markets firms have plans to transition away from the London Interbank Offered Rate (LIBOR) — which regulators are set to phase out at the end of 2021 — less than half (47%) are confident they have the necessary talent and capabilities to complete the transition by then, according to a new report from Accenture (NYSE: ACN).The average interest rate at which major global banks borrow from one another, LIBOR is linked to around US$400 trillion in financial instruments, including credit swaps, securitizations, student loans and mortgages.The report, titled “Liboration: A Practical Way to Thrive in Transition Uncertainty” and based on a survey of 127 financial services institutions and 50 corporates globally, notes that 84% of the institutions have LIBOR transition plan
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ACN
Earnings
- 3/21/24 - Beat
ACN
Sec Filings
- 4/24/24 - Form 13F-HR
- 4/22/24 - Form 4
- 4/19/24 - Form 144
- ACN's page on the SEC website