choosing riskfree rate dear completeley agree ben treasuries liquid reliable benchmarks also think fmas advantages disadvantages however looks like would difficult us avoid using libor benchmark least price anything related capital markets example credit default swaps prices always different capital markets use benchmarks different market half way solution different benchmarks example use anything decide closest risk free value products significantly different priced capital markets libor everything priced capital markets adjust manipulating coefficients event liquidity recovery purposes looks like benchmark libor avoid negative default probabilites highly rated reference entities add cost fo repo haircuts bankers let us continue discussion slava benjamin parsons 13 03 2000 20 07 bryan seyfried lon ect ect martin mcdermott lon ect ect viacheslav danilov lon ect ect stuart ffoulkes lon ect ect eklavya sareen lon ect ect tomas valnek lon ect ect john metzler lon ect ect simon brooks lon ect ect konstantin malinovski lon ect ect cc vasant shanbhogue hou ect ect vince j kaminski hou ect ect steven leppard lon ect ect jitendra patel lon ect ect william bradford hou ect ect harry arora hou ect ect subject choosing riskfree rate dear following discussions vince et al weeks ago regarding problems inherent using treasuries benchmark riskfree curve written attached short document preliminary conclusions follows recent turmoil treasury market mostly hit 10 30 year bonds treasuries still liquid curve used banks benchmarking risky debt considerable liquidity scarcity premium inherent within corporate treasury spread taking account accurate measurement premium allow us calculate bankruptcy prices based treasuries consistent market comments welcome course regards ben