INTRODUCTION
STEP 1: TAKE STOCK OF LIBOR-BASED PRODUCTS
STEP 2: MINIMIZE MISMATCHES BETWEEN OBLIGATIONS AND DERIVATIVES
STEP 3: ANALYZE MATERIAL RISKS AND FORMULATE RISK MITIGANTS
STEP 4: PLAN ON HOW BEST TO CONVERT SYSTEMS
AND AMEND LEGACY CONTRACTS
STEP 5: PREPARE FOR COMMUNICATIONS AND REGULATORY ENGAGEMENT
TRANSITION TIMING CONSIDERATIONS
HIGH-LEVEL CHECKLIST OF KEY TASKS
CONTACTS
APPENDICES
A: Sample of Existing Fallbacks for Various Asset Classes 32
B: Fallbacks and Related Issues 34
C: Spotlight on Corporate Finance, Litigation, Accounting & Tax Issues 46
D: A Look at the Legislative "Fixes" on Legacy Contracts 56
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