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The IBOR transition is the shift from Interbank Offered Rates to alternative reference rates.

The transition is a global effort to replace the unreliable IBOR rates with more robust reference rates.
The transition is expected to be completed by the end of 2021.
The new reference rates include the Secured Overnight Financing Rate (SOFR) in the US, the Sterling Overnight Index Average (SONIA) in the UK, and the Tokyo Overnight Average Rate (TONAR) in Japan.
The transition will impact various financial products, including loans, bonds, and derivatives.
The transition requires significant operational and technological changes for financial institutions.
Regulators are closely monitoring the transition to ensure a smooth and orderly process.

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