PODCAST

KPMG Podcast: Reference rate reform

Key highlights of the potential effects of reference rate reform on accounting and financial reporting.

Karen Silverman

Karen Silverman

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-1377

Lisa Blackburn

Lisa Blackburn

Executive Director, Dept. of Professional Practice, KPMG US

Mark Northan

Mark Northan

Partner, Dept. of Professional Practice, KPMG US

+1 212-954-6927

Chris Long

Chris Long

Principal, Financial Services Solutions, KPMG US

+1 862-222-4941

Podcast overview

KPMG professionals discuss the effects on accounting and financial reporting of the transition from LIBOR and other reference rates.

Applicability

  • Entities that have financial assets or liabilities linked to LIBOR, as well as collateralized derivatives.

Podcast contents

  • 01:10 - Reference rate reform summary
  • 04:55 - Readiness keys
  • 06:40 - Active (old) vs new contracts
  • 09:20 - SEC messaging
  • 12:45 - SEC filings in practice
  • 14:30 - Background on ASC 848
  • 20:00 - ASU 2021-01