Many companies use benchmark interest rates – e.g. in their loan instruments, lease contracts and in hedge accounting. The replacement of some of these rates with alternative benchmark rates is expected to be mostly completed by the end of 2021. In this podcast, Colin Martin and Stewart Hagell discuss the targeted accounting relief that has been made available to ease adoption of the new benchmark rates for banks and corporates.   'IFRS' is a registered trademark of the IFRS Foundation and is used by KPMG IFRG Limited under licence subject to the terms and conditions contained therein. Please contact the IFRS Foundation for details of countries where its trademarks are in use and/or have been registered.