LIBOR Transition: Progress and Readiness
・How is the Indian banking sector working towards that goal, and where does it stand at present?
・What progress has been made around contract remediation?
・What initiatives are in place at the entity level to raise awareness among employees and customers affected by LIBOR transition?
・Have banks started offering products linked to new ARRs?
・What is the status of IT readiness for the transition?
Presented in partnership with:
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Agenda:
3:00pm – 3:05pm Welcome address
Mr. Gopal Murli Bhagat, Deputy Chief Executive, Indian Banks' Association
3:05pm - 3:15pm Key note address :
Regulatory perspectives and initiatives towards Libor Transition
Mr. Ajay Kumar Sinha, Deputy General Manager, The Financial Markets Regulation Department (FMRD), RBI
3:15pm - 3:25pm
Industry level initiatives and preparedness
Mr. Kuntal Sur, Partner, Financial Risk and Regulation Leader, PwC
3:25pm - 3:35pm
How banks are covering the last mile preparations in all aspects of Libor Transition – Experience of ICICI bank
Mr. Bhargava Janakiraman, Deputy Head, Swap Market Making, ICICI Bank Ltd
3:35pm - 3:45pm
Entity level preparedness on treasury, loans and rolling of new products linked to new ARRs
Mr. Anurag Ghuwalewala, Director, HSBC Ltd
3:45pm - 3:55pm
How the IT System readiness is initiated and monitored
Mr. Sunil Kumar Singh, Deputy General Manager, Treasury Management Group, International Banking Group, SBI
3:55pm - 4:05pm
LIBOR Success Stories
Rohit Mandhotra, Risk Workflow Specialist, Bloomberg
4:05pm - 4:30pm Q&A
Speakers
Gopal Murli Bhagat
Deputy Chief Executive
Indian Banks' Association
Mr Gopal Murli Bhagat has more than 35 years of rich banking experience. He started his banking career with Bank of India and has worked in branches as well as administrative offices. He has experience of handling large corporate accounts. He was posted at Singapore branch of the bank twice and worked there for about seven years. In addition to the general banking, he also worked in Treasury of the bank at domestic as well as overseas center. He was elevated to the post of Executive Director in Corporation Bank from 2016. During his three years assignment he was looking after HR, IT, Large corporates, stressed accounts as well as Recovery. On the academic side Mr Gopal is a science graduate with post-graduation in Maths. He is a Certified Associate of the Indian Institute of Banking and Finance and holds Diploma in “Treasury, Investment and Risk Management”. He is associated with the Libor Transition initiative of IBA.
Ajay Kumar Sinha
Deputy General Manager, The Financial Markets Regulation Department (FMRD)
RBI
Mr. Shri Ajay Kumar Sinha has more than two decades of experience in Central banking. He is currently looking after the Regulations of Money Market, G-sec, interest rate and related derivative markets. He has extensive experience in the areas of banking supervision (supervision of several banks), financial stability and reserve management and has worked in various offices of the Reserve Bank.
Kuntal Sur
Partner, Financial Risk and Regulation Leader
PwC
Mr. Kuntal has over 24 years of experience as an Economist, Banker and Risk Management Consultant with number of leading financial institutions and corporate on risk strategy and governance, analytics & Basel issues. He is also advising corporate on currency & commodity risk management, hedge strategy, hedge instruments and pricing. His clients include leading Foreign, Regional, PSU banks and NBFCs. He has managed cross functional implementation and sales team for India, ASEAN, UK, Middle East and Africa markets. Authored a chapter in a book “Managing Illiquid Assets: Perspectives and Challenges” published by Risk Books, London.
Sunil Kumar Singh
Deputy General Manager, Treasury Management Group, International Banking Division
SBI
Mr. Sunil Kumar Singh is Deputy General Manager, Treasury Management Group (TMG) under International Banking Group (IBG) of State Bank of India (SBI). International Banking Group of SBI comprises international operations of the Bank, which is spread across 232 offices in 32 countries with a business portfolio of more than USD 62 bn and a staff complement exceeding 3000. At TMG, he drives Treasury operations at all Foreign offices, which includes Asset Liability Management, Liquidity management, Treasury products and fund-raising activities. Besides, Treasury Management Group (TMG) of IBG, he is presently heading a nodal office “Libor Transition Office (LTO)” overseeing Libor Transition activities for the entire Bank. A career banker, he joined State Bank of India as Probationary Officer in 1995, Mr. Singh has held various positions across wide range of domains including Treasury /dealing operation, Corporate Banking, International Banking, Retail Banking and Branch administration. This includes an important assignment at SBI's Operations in Hong Kong as Chief Dealer.
Anurag Ghuwalewala
Director
HSBC Ltd
Mr Anurag Ghuwalewala is the Director with HSBC-India. He is with HSBC Bank for the past 15 years and manages their derivatives portfolio in the capacity of a Director. Anurag is a member of the IBA working groups I & II of Libor Transition which are working on IBOR transition from an India perspective. Anurag has done his Masters in Business Administration from IIM Bangalore and is also a qualified chartered accountant.
Bhargava Janakiraman
Deputy Head, Swaps Market Making
ICICI Bank
Mr. Bhargava Janakiraman leads the marking making desk for Interest Rate Swaps at ICICI Bank. He has been with ICICI bank since 2006 and is an active contributor to IBA work stream on Libor Transition for Indian Markets.
Rohit Mandhotra
Risk Workflow Specialist
BLOOMBERG/ MUMBAI OFFICE