NOTE: The health and safety of our members remains our top priority. We will continue to monitor and utilize guidance from the CDC, and will convert this program to a virtual format should we need to. This program has been adjusted to take place as a webinar.

PROGRAM INFORMATION

We are proud to be partnering with Arnold & Porter on this webinar!

As regulators, financial institutions and other market participants worldwide prepare to transition away from LIBOR by the end of 2021, affected entities have already begun to implement their internal transition processes. In this presentation, Arnold & Porter attorneys Arturo Caraballo, Gregory Harrington and Charles Yi will discuss the LIBOR transition and what financial institutions are doing to prepare for this market-shifting event.

Topics will include:

• An introduction to LIBOR, its importance and its (likely) end
• How regulators and trade associations are preparing
• Differences between LIBOR and other proposed benchmark options, including SOFR
• LIBOR transition challenges
• Approaches for modifying existing contracts and drafting new contractual language
• Next steps

SPEAKER INFORMATION

Arturo Caraballo – Counsel, Arnold & Porter

Arturo Caraballo has extensive experience representing clients in a broad range of international financial transactions, with an emphasis on Latin America.

Mr. Caraballo has advised foreign and domestic, sovereign and private sector clients on hundreds of complex transactions throughout Latin America. The transactions on which he has advised clients include capital markets offerings and liability management operations; bilateral and syndicated loans; debt restructurings; project and structured financings; export and multilateral credits; investment management agreements; and swap and derivative transactions.

Mr. Caraballo first joined the firm in 1997 and spent nearly a decade in the firm’s Corporate and Securities practice. Before returning in 2015, he served as President and General Counsel of Veris Consulting, Inc. where he managed a wide range of contractual, corporate, litigation and risk management matters for the accounting and financial management consulting firm and oversaw the firm’s day-to-day operations.

Mr. Caraballo graduated from Tulane Law School and has served on the Board of Directors of the Hispanic Bar Association of the District of Columbia. He is fluent in Spanish.

Gregory Harrington – Partner, Arnold & Porter

Gregory Harrington has extensive experience in major international financial transactions in Latin America, particularly in the area of capital markets and banking. Mr. Harrington’s practice includes corporate and project finance, including equity and debt securities sold pursuant to US Securities and Exchange Commission (SEC) registration, Rule 144A or Regulation S; and listings on the New York, London, Luxembourg, and Irish Stock Exchanges; Securities Act, Securities Exchange Act, and Investment Company Act compliance; and advising sponsors and lenders in connection with project finance transactions.

Prior to joining the firm, Mr. Harrington was a partner at another international law firm based in São Paulo, having previously practiced in Madrid, New York, and Washington, DC. Prior to attending law school, he was a lending officer at Chemical Bank (now JPMorgan Chase Bank) in New York, including participating on the creditors committee for the renegotiation of the Republic of Colombia’s international debt obligations.

Charles Yi – Partner, Arnold & Porter

Charles Yi brings to his practice a deep understanding of the financial services and legislative sectors, having served as General Counsel of the Federal Deposit Insurance Corporation (FDIC) from 2015 to 2019. In that role, he was involved in major banking policy initiatives and legislation as well as the implementation of related rulemaking. Mr. Yi also had supervisory responsibility over FDIC enforcement and litigation activity. In addition, he served on the FDIC’s fintech steering committee, and established a fintech working group within the Legal Division. As FDIC General Counsel, Mr. Yi served as Chairman of the Legal Advisory Group of the Federal Financial Institutions Examination Council (FFIEC) and as a government member of the Administrative Conference of the United States (ACUS).

Mr. Yi’s experiences on Capitol Hill include serving as staff director and chief counsel on the Senate Committee on Banking, Housing, and Urban Affairs responsible for all issues under the committee’s jurisdiction (including banking, securities, insurance, and housing finance); chief counsel and deputy staff director of the Senate Banking Committee; and counsel for the Committee on Financial Services of the US House of Representatives. He also served as deputy assistant secretary for banking and finance at the US Treasury Department.

While at the House Financial Services Committee, Mr. Yi worked on banking and insurance issues and participated in the creation of the Troubled Asset Relief Program (TARP) during the height of the financial crisis. And during his tenure at the Senate Banking Committee and the Treasury, he was instrumental in the creation and implementation of the Dodd-Frank Act.

While serving as senior staff on the Senate Banking Committee, Mr. Yi led the reauthorization of the Terrorism Risk Insurance Act (TRIA), Ex-Im Bank, and the National Flood Insurance Program, and helped to draft and shepherd the passage of the Credit CARD Act.