5 ms·
Man I'm glad I don't work for a fintech right now, there's a lot of very complicated code with LIBOR as an input
by tomc1985 5y ago
Man I'm glad I don't work for a fintech right now, there's a lot of very complicated code with LIBOR as an input
- wsc981 5y agoThink about all the job security. You'll be set for many years!
- queuebert 5y agoThey should start a club with the COBOL maintainers.
- toomuchtodo 5y agoChaos is a ladder. Run towards it to prosper.
- pessimizer 5y agoThey've had years.
- marginalia_nu 5y agoHaving worked in fintech, I assume everyone ignored all signs toward this coming, assumed it would be postponed forever, and then collectively burst into a choir of "LIBOR gone? Inconceivable!"
- gadders 5y agoOr an actual real bank...
- tomc1985 5y agoHey now, fintech is a real banc!
- NoboruWataya 5y agoMost banks are relatively okay now, as by now they have already spent thousands of man-hours to migrate their trades. The transition has been a major talking point for the last two years.
- NovemberWhiskey 5y agoThe smart money already moved away from LIBOR discounting for pricing and risk models straight after 2008, and has been on Fed Fund OIS discounting for a long time; so SOFR OIS is actually going to be the second move.
- gadders 5y agoI've been living it a bit on the documentation side.