The brief

A large Canadian Bank wanted to understand its exposure to LIBOR to identify any risks associated with the cessation of LIBOR and subsequently define a remediation strategy.

The IBOR Transition Program was considered by the bank to have significant impact on the legal work streams due to the volume and complexity of contracts that required remediation. The agreement types were made up of ISDAs, CSAs, Confirmations and Loan Agreements. The client was looking for an appropriate technology solution to facilitate their contract assessments, which could handle any type of documentation without jurisdictional constraints. In addition they were interested in a solution with review and storage functionality, that was queryable across multiple dimensions, that could be used beyond the IBOR Transition Program e.g., by Client / Region / Contract Type.

What we delivered

60,000

TOTAL DOCUMENTS

38,000

DOCS IN SCOPE

6

Analysis

14

Weeks

26+

DATA POINTS PER DOCUMENT
  • A single searchable repository of all their asset documents to be leveraged for future analysis.
  • A view of all their contractual exposures to LIBOR categorised by the remediation pathway (e.g. Which require re-papering, which contain good enough fallbacks etc).
  • A playbook of all the language variations that can be leveraged for Client/Counterparty outreach.
  • Output report of the mined data to be ingested by various downstream systems.

See here to find out how we do it

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