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By John Hintze
In March 2021, the administrator of the London Interbank Offered Rate made it official: certain tenors of U.S. dollar Libor would cease to publish on Dec. 31, 2021, with remaining settings terminating on June 30, 2023, for legacy transactions. With the long-telegraphed Libor endgame now set in stone, banks are picking up the pace of transition amid front- and back-end challenges.
One concern held by community, midsize and regional banks that use Libor is that the Secured Overnight Financing Rate, the favored alternative of the Alternative Reference Rate Committee, a public-private group convened by the New York Fed, is that it does not reflect credit risk. In times of market stress, investors flocking to the risk-free rate would cause it to plummet, along with the banks’ returns on SOFR-priced loans, while their cost of funds jumps a bank nightmare.
The 7 deadly sins of records retention
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Deloitte Unveils Artificial Intelligence Institute for Government
New entity to develop talent and drive collaboration with the public sector to advance AI for public good
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WASHINGTON, March 16, 2021 /PRNewswire/ Deloitte s government and public services practice announced the new Deloitte Artificial Intelligence Institute for Government (DAIIG) today. Institute leaders outlined a set of commitments and actions to advance applied AI in the public sector by building a cross-sector community for research and shared expertise, and mentoring and growing the talent of the future. As evidenced in the recent National Security Commission on Artificial Intelligence report, advancing the use of artificial intelligence is a national imperative. While decisions and actions to accelerate AI innovation need to happen today, implementing AI brings ethical and technical challenges that are as complex as any we have faced in recent histor
Deloitte Sponsors an America s VetDogs Future Service Dog for a Military Veteran or First Responder
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Deloitte is sponsoring a male black Labrador retriever named Benny who will be raised to become a future service dog by Deborah Golden, Deloitte Risk & Financial Advisory cyber and strategic risk leader and principal, Deloitte & Touche LLP, for the next 16 to 18 months. Benny will be the third full-time service puppy and the sixth future service dog I ve helped raise over time, said Golden. My Deloitte colleagues and clients are accustomed to seeing me train and acclimate future service dogs for workplace, travel, and other environments as such socialization is key to a service dog s success with future handlers. I welcomed Deloitte s interest in teaming in support of Benny for America s VetDogs so that we could raise awareness of the important role service dogs play in the physical and mental health of those they se
Even amidst a pandemic, there is no shortage of capital sources for the right sponsors.
The pandemic continues to devastate portions of the U.S. economy, but investor confidence is expected to return in 2021 with the rollout of COVID-19 vaccines and more stimulus funding.
Signs of a returning investment market are already evident, according to industry sources. Investment sales activity increased in the second half of 2020, and investors continue to seek acquisition opportunities, as well as equity and debt sources to support their goals, according to John Chang, senior vice president and national director of research with brokerage firm Marcus & Millichap. In a recent optimistic report on investment levels, he noted that while transaction activity in the last quarter of 2020 was below that of fourth quarter of 2019, it still surpassed transaction activity in 2006, at the height of the last real estate cycle.
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