It is widely expected that LIBOR (London Inter-Bank Offer Rate) will no longer be available as a global reference rate after 2021.Please discuss the impact of this major change in the international financial markets, addressing current use of LIBOR in international finance (be comprehensive in identifying how LIBOR is used), the risks introduced by its projected "demise" (financial, operational, transactional, etc), and the efforts underway in the US and other major markets to manage the transition to an alternate reference rate.