Most institutions simply do not know what LIBOR fallback language exists in their hundreds of thousands of relevant contracts as these are unstructured documents which are not machine-readable. Given the scale/complexity of the effort and time constraints, a manual approach to identifying the contracts that require review/repapering will not scale. Furthermore, from a regulatory and legal perspective, a well-controlled, sustainable LIBOR Decommissioning Program requires evidence-based data lineage, documented audit trails and transparent logic.
Pendo Systems and Vuram have partnered together to provide a solution that leverages a hybrid approach to combine two distinct software capabilities to serve as the centralized, sustainable repository for all LIBOR Decommissioning work product and communications. This enables the legal analysis to create the waterfall of logic of actions for each category of fallback language while significantly reducing non-value manual work to accelerate and strengthen the LIBOR Decommissioning Program.
Key Features and Functionality:
Vuram's Appian Application:
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