For cash markets, the Bank for International Settlements suggests that floating-rate instruments could be converted to fixed-rate contracts or to an adjusted RFR-based term rate, similar to the option for derivatives contracts. We could also see some issuers recalling LIBOR-linked debt instruments and replacing them with those linked to the new benchmarks.
Haruhiko Kuroda: Digitalization - financial services for society Speech (virtual) by Mr Haruhiko Kuroda, Governor of the Bank of Japan, at the FIN/SUM 2022, Tokyo, 29 March 2022. * * *  Introduction I am delighted to be given this opportunity to speak to you at the FIN/SUM 2022 through a video message.