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  1. Transition from LIBOR to alternative reference rates: background
    TMA: An Introduction to LIBOR Transition
    ARRC: Paced Transition Plan
  2. Transition in the derivatives market
    ISDA: Benchmark reform and transition
    TMA WGARR: Statement on ISDA IBOR Fallbacks Supplement and Protocol
  3. Transition in the loan market
    TMA: To be uploaded*
    LMA: Documentation for Consultation
    ARRC: Fallback Contract Language for Cash Products
  4. Accounting issues related to the transition
    IASB: Amendments to IFRS 9 and IAS 39
  5. Margin requirements for legacy derivative contracts after the transition
    BCBS/IOSCO: Statement on the Final Implementation Phases of the Margin Requirements for Non-centrally Cleared Derivatives
    HKMA: Updates on Supervisory Policy Manual Module CR-G-14
  6. Migration from effective fed funds rate discounting to SOFR discounting for derivatives
    CME: SOFR Discounting & Price Alignment Transition Plan for Cleared USD Interest Rate Swaps
    LCH: SOFR Discounting: LCH Plan for the SwapClear Compensation Process
    HKEX: Transition plan for switching to SOFR and ESTER discounting
  7. HKMA circulars on interest rate benchmark reform
    March 2019
    October 2019
    April 2020
    Annexes to the April 2020 circular
    July 2020
    Annex 1 to the July 2020 circular

    Annex 2 to the July 2020 circular

    March 2021
  8. How to adopt the alternative reference rates?
    BOE: Use Cases of Benchmark Rates: Compounded in Arrears, Term Rate and Further Alternatives
    FSB: Overnight Risk-Free Rates - A User's Guide
    ARRC: Practical Implementation Checklist for SOFR Adoption
    ARRC: A Users' Guide to SOFR
    ARRC: Recommended Best Practices for Completing the Transition from LIBOR
    ASIFMA: IBOR Transition Guide for Asia
    TMA: Transitioning Away from LIBOR: Points to Note for Corporate Treasurers