Nuovi tassi benchmark

Abstract

nterbank rates (IBORs) play a fundamental role in the financial markets as contractual rates for loans, mortgages, derivatives and securities. Their reliability was discussed after the crisis because of opacity, low transaction volumes and high expertbased judgment implicit in the fixing methodology, allowing for manipulations. Regulators and industries are currently developing new alternative rates based on more transparent, robust and market-driven principles and methodologies. The transition to such new interest rates poses a number of challenges from multiple points of view: legal, credit, pricing, risk management, operational, IT, essentially changing the foundations of finance established with the introduction of LIBOR in the ‘80s.

Keywords

• ibor