Job Title: Special Advisor to the Board
Company: FEDERAL RESERVE BOARD
David Bowman is a Special Advisor to the Board of Governors of the Federal Reserve System. He works with the Alternative Reference Rates Committee convened by the Board of Governors and Federal Reserve Bank of New York to identify robust alternatives to U.S. dollar LIBOR, and also with the FSB’s Official Sector Steering Group for reference rate reform, co-chaired by Governor Jerome Powell of the Board of Governors and Andrew Bailey of the U.K. Financial Conduct Authority. Mr. Bowman also serves as the Board of Governors’ representative as an Observer on the IBA LIBOR Oversight Committee. Mr. Bowman has a Ph.D. in economics from the University of California at Berkeley.
Will we stop using libor? How do you migrate this big market away from libor especially when the contracts had been already signed and terms agreed? What should the new benchmark be? What will this new change mean for swaps users? What have the banks, clearers and dealers recently concluded?