Donnelley Financial Solutions, Inc. · NYSE:DFIN
Donnelley Financial Solutions — Beyond LIBOR: Developments, Lessons & Opportunities Industry Roundtable (August 2021)
17 slides from Donnelley Financial Solutions's conference presentation, August 2021
Slide 1: Beyond LIBOR: Developments, Lessons & Opportunities
Industry Roundtable Beyond LIBOR: Developments, Lessons & Opportunities Hosted by: 1
Slide 2: Representative Clients
| CBREVIA Representative Clients A DFIN Company . Baker — n— (intel) pwe McKenzie. FIFTH THIRD BANK THOMSON REUTERS (@) MUFG SAP DUFF & PHELPS md} sres on aie easren™ | BDO au BakerHostetler KOLEYMJESSEN SwanCap US== fl McoMMERCIAL CONCRETE
Slide 3: Machine Learning & Natural Language Processing
Machine Learning & Natural Language Processing Machine learning & natural language processing, fully functional Legal concepts extracted regardless of specific words used & location in documents Powerful self-training platform leverages eBrevia’s adaptable & scalable “brain” Multi-format exports & m
Slide 4: Panel Speakers
Panel Speakers Chris Kontaridis Rich Duggan Sarah Porter Adam Nguyen Partner Senior Vice President Partner Co-Founder
Slide 5: By 31 March 2021
By 31 March 2021 Jurisdiction Authority Requirement* Type of Requirement United Kingdom WGSRFR Cease initiation of new Sterling LIBOR Recommended Loans,1 bonds, securitisation and linear target milestone derivatives** United Kingdom WGSRFR Complete identification of all Sterling LIBOR Recommended le
Slide 6: By 30 June 2021
By 30 June 2021 Jurisdiction Authority Requirement* Type of Requirement United Kingdom WGSRFR Cease initiation of Sterling LIBOR-linked Recommended non-linear derivatives** target milestone United States Alternative Reference Cease origination of USD LIBOR Recommended best practice Rates Committee (
Slide 7: By 30 September 2021
By 30 September 2021 Jurisdiction Authority Requirement* Type of Requirement United Kingdom WGSRFR Active conversion of all legacy contracts Recommended where viable target milestone United States ARRC Ceaser origination of USD LIBOR Recommended CLO securitisations best practice Japan Cross-Industry
Slide 8: By 31 December 2021
By 31 December 2021 Jurisdiction Authority Requirement* Type of Requirement United Kingdom WGSRFR Be fully prepared for the end of LIBOR Recommended target milestone United States Federal Reserve Board, Cease entering into new USD Supervisory guidance Federal Deposit Insurance LIBOR contracts** Corp
Slide 9: By 3 January 2022
By 3 January 2022 Jurisdiction Authority Requirement* Type of Requirement All FCA Cessation of publication of all LIBOR Deadline currency/tenor pairings (other than overnight, 1-month, 3-month, 6-month and 12-month USD LIBOR tenors4 All FROM THE FIRST LONDON BANKING DAY ON OR AFTER JANUARY 1, 2022 F
Slide 10: By 30 June 2023
By 30 June 2023 Jurisdiction Authority Requirement* Type of Requirement All FCA Cessation of publication of USD LIBOR for Deadline overnight, 1-month, 3-month, 6-month and 12-month tenors5 All FROM THE FIRST LONDON BANKING DAY ON OR AFTER JANUARY 1, 2022 For derivatives referencing all USD LIBOR set
Slide 11: At least 6 months prior to the date the replacement rate would become effective
At least 6 months prior to the date the replacement rate would become effective Jurisdiction Authority Requirement* Type of Requirement United States ARRC Disclose planned selected replacement rate Recommended (where contract specifies that a party can best practice select a replacement rate at thei
Slide 12: Analysis
EBREVIA| Analysis A DFIN Company [EBREViA] ‘American Life ine Lease Agreement.doe 32.2, Brokers’ Fees. Tenant represents and warrants to Landlord that has engaged, finder or other person who would be entitled to any commission or fees for the negotiation, execution, or delivery of this Lease other t
Slide 13: PWC: Overview of the LIBOR Contract Transition Process
PWC: Overview of the LIBOR Contract Transition Process Phase 2 - Transition Phase 1 - Contract discovery, strategy and operations set Phase 3 - Contract digitization & analysis up amendment and execution Generate or Negotiate and Prepare Plan for Client Baseline Extract Data Review Draft Execute (or
Slide 14: Solution - Process Model
EXECUTION EXECUTION OF DOCUMENTS KICK OFF CLIENT INSTRUCTS TEAM AND PROVIDES TRANSACTION DOCUMENTS DUE DILIGENCE MEETING re ANALYSE NOTEHOLDER, TRANSACTION MEETINGS TAKE 9 DOCUMENTS PLACE Remy) AND DECIDE ON NEXT STEPS NEGOTIATION DRAFTING CONSULT WITH DRAFT MEETING PACK PARTIES TO AGREE AND AMENDME
Slide 15: eBrevia Test Results
eBrevia Test Results Test 1 Two different sets of documents were used in Test 1 and Test 2 : Test 2 ‘Trainee 1 Ove diligence completed manually Trainee 1 Die diligence ‘completed manually LJ TIME CONSTRAINED Cx< NO TIME Trainee2_ 120 mins CONSTRAINTS Trainee 2 . Due diligence q Due diligence a amete
Slide 16: Thank You! Questions?
" - —- THANK YOU! QUESTIONS?
Slide 17: Stay in Touch
STAY IN TOUCH *(click buttons for hyperlinks)*