John Pickering Authored Article on LIBOR Interest Rates for Alabama Bankers Association Board Briefs
John Pickering, partner in the firm’s Birmingham office and member of the Real Estate Practice, authored an article for the September/October 2017 edition of Alabama Bankers Association’s Board Briefs newsletter. The article covers the London Interbank Offered Rate Interest (LIBOR) rate index and its expected phase-out in 2021. John shared the implications of a LIBOR termination on financial institutions and the impact on more than $350 trillion in existing transactions. He discussed how organizations should be prepared to shift to the recently-adopted Broad Treasuries Financing Rate (BTFR) as a replacement for LIBOR.