LIBOR Transition Customer Frequently Asked Questions
These updated Frequently Asked Questions (FAQ) should be read in conjunction with ANZ’s ‘LIBOR Transition Customer Presentation’ and the May 2020 version of the FAQs.
This communication is made by Australia and New Zealand Banking Group Limited (ABN 11 005 357 522) in Australia and outside Australia by either its branches or subsidiaries (each is referred to in this important notice as ‘ANZ’). It is intended for ANZ’s institutional, professional or wholesale customers, and not for individuals or retail persons. It should not be forwarded, copied or distributed. The information in this communication is general in nature, and does not constitute personal financial product advice or take into account your objectives, financial situation or needs. This communication does not constitute an offer of financial accommodation.
- does not constitute advice and ANZ does not expect you to rely on it. ANZ does not provide any financial, investment, legal or taxation advice in connection with this communication;
- is not a recommendation and is not intended to influence you or any other person to make a decision; and
- is not an invitation, solicitation or offer by ANZ to you to acquire a product or service, or an offer by ANZ to provide you with other products or services.
The information in this communication was prepared by ANZ in good faith from publicly available sources and while care has been taken in compiling it:
- ANZ has not independently verified the content of the underlying information;
- the information is high level, intended as a summary only and should not be relied on as being current, complete or exhaustive;
- ANZ does not undertake to update the information in this communication or notify you should any information contained in this communication cease to be current or correct; and
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LIBOR Transition is a constantly evolving topic, and this means information quickly becomes out of date. Make sure you keep yourself up to date and informed on transition issues using current information.
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ANZ is aware that there are other rates in development that may also fill part of the role previously played by LIBOR (for example AMERIBOR). ANZ’s current view is that it does not see a use case for these alternative rates. However, ANZ continues to monitor market developments.Return
Industry consultation on the methodology for Modified MIFOR is taking place. Modified MIFOR is for use in new transactions/contracts on cessation of LIBORReturn
Except for SARON which is continually calculated real-time and published every 10 minutes. More information can be found here.Return