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Language Notification

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Benchmark-transitioning-away-from-LIBOR

Perspectives

Benchmark transitioning away from LIBOR

Author

By Citi Private Bank,

February 17, 2020Posted InInvestments

IBORs are widely used interest rate benchmarks and are reference rates for a vast number of financial instruments and products, including certain cash and derivative products offered by Citi.

Various regulatory authorities have announced their support for a reduced reliance on IBORs with the London Interbank Offered Rate (LIBOR) expected to be phased out as early as the end of 2021. Regulators, industry bodies, trade associations and individual market participants, including Citi, are all involved in the efforts to consider potential replacement rates for IBORs and ways of effecting the transition away from IBORs. We encourage clients to keep up to date with the latest industry developments in relation to benchmark transitioning and if appropriate, their impact by consulting independent professional advisors (legal, financial or other). 

As industry discussions on replacement benchmarks rates progress, Citi will continue to keep our clients updated on our plans and how these market-wide changes may affect their day-to-day relationship with Citi and services they may have with us. 

Citi has recently developed a Frequently Asked Questions (FAQ) reference guide that may be helpful to our clients who are seeking guidance on the LIBOR transition. 

Click here to access Citi's Frequently Asked Questions and review any of the questions as applicable to your product and services with Citi or other institutions.