* * * Mr. Daryl Tarte, Chairman of the Board of CMDA Mrs. Mereia Volavola, Chief Executive Officer of CMDA Workshop Participants Ladies and Gentlemen Introductory remarks Good Morning It is my pleasure to be here with you this morning at the opening of Capital Markets Development Authority Workshop for Provincial and Tikina Investment Companies.
If the publication of LIBOR were to become untenable or if we were to simply “end LIBOR”, as some have urged, untangling the $ trillion in outstanding U.S. dollar LIBOR contracts would entail a protracted, expensive, and uncertain process of negotiating amendments to an enormous number of complex documents – a horrible mess and a feast for the legal profession, to be sure.