Solutions / Regulation

Bloomberg solutions for LIBOR transition

LIBOR transition is firmly underway

The UK Financial Conduct Authority has solidified end dates for all 35 London Inter-bank Offered Rate (LIBOR) indices, while official bodies globally have issued clear guidance to the market to cease trading new LIBOR-based products by specific dates throughout 2021. As the global leader in financial data and technology, Bloomberg has been at the forefront of efforts to support the markets during the LIBOR transition.

Solutions

We offer a comprehensive suite of data, analytics and portfolio solutions to help firms assess the impact of the transition to alternative reference rates, with our industry-leading technology providing transparency and supporting adoption for all new rates to help you at every step of the journey.

Looking for LIBOR fallback rates?

Visit our LIBOR resource center

The Terminal

Rely on the world’s leading source of financial information to support you through the transition.

Fixed income

The end of LIBOR represents a fundamental shift for the fixed income markets. We offer a range of tools to help firms prepare and transition into the post-LIBOR world.

Electronic trading solutions

Our electronic trading venues help buy-side and sell-side clients discover value, trade and report with confidence. With direct connectivity to all major clearing houses, clients can execute alternative-rate derivatives in all LIBOR currencies, trade standard derivative conventions, and customize dates and frequencies to reflect desired exposure.

Curves and pricing

Our Swap Curve Builder tool enables you to analyze and customize interest-rate curves, determine funding costs for swap and derivative transactions, value your trades’ performance, and calculate the present values of future cash flows.

Mortgages

In our calculators and trade-ticketing functions, we’ve added support for floating-rate residential-mortgage-backed securities and asset-backed securities that use a new alternative rate.

Data

Trust in Bloomberg’s market-leading data to accelerate your transition plan and reduce your risks.

Enterprise data

We offer multiple datasets to support firms in working through the challenges of the LIBOR transition while minimizing disruption to operations.

BISL/ISDA IBOR fallback tickers

With LIBOR-referenced swap contracts facing cessation by the end of 2022, ISDA has implemented adjusted versions of RFRs to serve as IBOR fallbacks, selecting Bloomberg as the official adjustment services vendor for these fallbacks. Bloomberg Index Services Ltd (BISL) publishes daily IBOR fallback tickers, with the two primary Terminal resources being FBAK and ISDA.

Risk & portfolio solutions

Overcome operational challenges linked to the transition, with tools enabling the successful adoption of alternative reference rates.

Multi-Asset Risk System (MARS)

MARS enables firms to efficiently and accurately structure and manage risk across portfolios of loans, bonds, mortgages, swaps and other fixed income products.

Portfolio & Risk Analytics (PORT)

PORT allows clients to analyze their portfolio relative to a benchmark using alternative-rate curves and analytics.

Asset & Investment Manager (AIM)

For buy-side firms, AIM delivers global, multi-asset solutions for portfolio management, trading, compliance and operations. We’ve invested strongly in the enterprise data, analytics & risk solutions that power AIM.

Trade Order Management Solutions (TOMS))

For sell-side firms, TOMS fully supports trading of new alternative-rate products across all currencies and asset classes, including interest-rate derivatives, fixed income, money market and mortgages.

Bloomberg Short-Term Bank Yield Index (BSBY)

Access a credit-sensitive index, published daily, which can be used as a supplement to SOFR in the lending market.

BSBY

BSBY aims to represent a series of credit-sensitive reference rates that incorporate systemic bank credit spreads, defining a forward term structure. BSBY seeks to measure the average yields at which large, global banks access USD senior unsecured marginal wholesale funding. BSBY is not available for use as a benchmark under the UK BMR and must not be used as a benchmark in the United Kingdom. BSBY will only be available for use as a benchmark in the United Kingdom following an announcement by BISL that BSBY is ready for launch in the United Kingdom market in compliance with the UK BMR.

BSBY index to cease

On November 15, 2023, BISL announced the permanent cessation of the BSBY index and all tenors, available here. Please note that the final publication of the BSBY index and all tenors will take place on Friday, November 15, 2024 (the “Cessation Date”). The cessation will take effect immediately following the publication of the rate for each BSBY tenor.

LIBOR Transition: Expert Views

We interviewed industry leaders and regulators to hear their views on the latest LIBOR developments, gleaning advice to help you manage the process and actively transition your portfolio.