ILLUSTRATIVE BOOK
FOR A LARGE BANK
IMPACT OF LIBOR
TO SOFR DIRECT SUBSTITUTION
Transition challenges include the potential need for customer and investor approval, and issuing LIBOR-linked mortgages now knowing that LIBOR may transition.
thousand
million
$US 45 billion
LIBOR-linked
Fixed or tied to another rate
$US 255 billion
$US ~300 billion
Total number of customers: ~2 million
annual bank/investor income at risk
~300
~$120
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