Engage with the official sector about how LIBOR affects your firm and your challenges in this transition. And note that just last week, the ARRC published a checklist designed to support market participants with the adoption of SOFR.16 Implementation will be complex: financial contracts need to be scrutinized, operations need to be evaluated, and technology needs to be updated. The work involves numerous jurisdictions and multiple asset classes, and will require changes from how business is conducted to how systems are built. These things take time, and time is running out. Conclusion The LIBOR transition is a serious issue the industry needs to address. Both the official sector and market participants have made enormous progress, but we need to see much broader and consistent preparation for the transition. If your firm is one of those hoping the problem will go away, or feeling nostalgic and counting on an extension to the deadline, take this message back: The clock is ticking, LIBOR’s days are numbered, and we all need to play our part in preparing the industry for January 1, 2022. Thank you, and I hope you enjoy today’s conference. 1 Federal Reserve Bank of New York, Statement Regarding Repurchase Operations, September 20, 2019 2 For recent statements regarding the FOMC’s longer-run monetary policy implementation framework and  balance sheet normalization, see FOMC Communications Related to Policy Normalization. 3 John C. Williams, 901 Days, Remarks at the Securities Industry and Financial Markets Association, New York,  July 15, 2019.

James D Rogers: Accountability, transparency and governance in Sierra Leone Keynote address and statement by Dr James D Rogers, Governor of the Bank of Sierra Leone, at the Second Audit Risk and Governance Africa Conference, Zanzibar, Tanzania, 17-20 July 2007. *  *  *  Mr Chairman, Conference Organisers, Distinguished Ladies and Gentlemen, I wish firstly to thank the conference organisers for their kind invitation to deliver the keynote address at this conference on this very topical and important subject. My remarks will be in six parts. After an Introduction, the First Part will consider the Meaning and Scope of Accountability, Transparency and Governance. The Second Part will examine the relationship between Governance and Development. Part Three will present Aspects of Governance in Sierra Leone. This will be followed by General Remarks in Part Four. Part Five concludes. Introduction Accountability and transparency have occupied a very high lead in discussions of state management. Hardly would a speech be delivered, at domestic or international gatherings, articles written, in the popular press or in professional and academic journals, on issues of state management, without at least an allusion to, if not an extensive treatment of, these concepts. Indeed, serious examination of these concepts takes us into the complexities of governance, aid conditionalities and effectiveness, international economic cooperation, sovereignty of developing countries, economic development, achievement of the millennium development goals, and associated issues. It is within the context of these considerations that a fuller analysis and understanding of these concepts can be obtained.