Tom Wipf

Tom Wipf, Vice Chairman of Institutional Securities at Morgan Stanley and chair of the Alternative Reference Rates Committee, shares insights on transitioning from LIBOR, a rate tied to over $350 trillion in assets. He discusses the intricate challenges and solutions involved in shifting to the secured overnight financing rate (SOFR). The conversation dives into issues like navigating legacy contracts, the importance of actual transaction-based benchmarks, and strategies to manage risks associated with 'tough legacy' securities during this monumental financial shift.