AfrAsia Bank’s approach to IBOR transition

• Internal readiness
  • The Bank has been working on several different workstreams simultaneously, in order to get the Bank prepared legally and operationally
• Client focus
  • The Bank has been optimising its communication strategy to ensure that all affected clients are treated equally and are informed in the best way possible
  • Internal staff has attended several training modules as part of the effort to standardise all communication related to the IBOR transition
  • The Bank has made available a number of educational materials that clients can access easily via our dedicated landing page
• Industry leadership & engagement
  • Our senior management will continue participating in (L)IBOR committees and working groups at industry level

A Summary of Progress to Date

• April/May: Contract inventory (all exposures analysed, affected clients/contracts identified and prioritised)
• June – ongoing:
  • Legal (front book, back book)
  • Communications (internal training, communication strategy)
  • Operational readiness (IT infrastructure, non-IT, computational methodology)
• June: First client communication sent out on 14 June 2021
• August: Client webinar. Should you have missed it, you can watch the replay here
• September: Large scale IT readiness project kicked off
• October: Client engagements will commence

Next steps

AfrAsia Bank will begin setting up discussions with all affected clients, client engagements are expected to commence in the month of October. Please await instructions from your dedicated Relationship Manager, who will contact you for an initial meeting. All engagements are designed to provide you a platform to ask all questions you might have in regard to:

• IBOR transition in general
• How you will be affected by the transition
• Your specific contract with AfrAsia Bank (terms, pricing, continuity)

Please do not hesitate to contact your Relationship Manager at any time, who will be your best point of contact in all matters related to the IBOR transition.