As LIBOR is being phased out and alternative reference rates are being adopted around the world, investors are coming to grips with the impact of such a change on many corners of finance, from interest-rate derivatives and securitized products to adjustable-rate mortgages and floating-rate notes. As the transition remains highly fluid, PGIM Fixed Income's FAQ addresses a wide array of questions related to the LIBOR transition, including:
• What are the alternative reference rates (ARRs) that will replace LIBOR?
• When will LIBOR cease to be published?
• How has the derivatives market’s adoption of an ARR progressed?
• How will legacy LIBOR securities transition to an ARR?
• How has the transition in bank loans been different?
• How is PGIM Fixed Income approaching the LIBOR transition?