Topic
LIBOR Transition
277 published works
Eye on IBOR Transition
Expanding the Documentary Toolkit for Transition from LIBOR: The LMA’s Latest Volley of Documents for the Loan Markets
By Trevor Borthwick, Paul Tannenbaum, Aimee Sharman
On 23 November 2020, the LMA published various documents with the aim of assisting market participants looking to include active LIBOR transition mechanisms in their loan documentation. These documents are…
Eye on IBOR Transition
ICE Benchmark Administration to Consult Regarding Cessation of 1-Week and 2-Month USD LIBOR by December 31, 2021, and of Other Tenors by June 30, 2023
On November 30, 2020, ICE Benchmark Administration Limited (“IBA”) announced its intention, in early December 2020, to consult on the proposed cessation of the publication of: the one-week and two-month…
Global Regulation Tomorrow
ICE Benchmark Administration to consult on its intention to cease the publication of GBP, EUR, CHF and JPY LIBOR
By Hannah Meakin (UK), Hannah McAslan (UK)
On 18 November 2020, ICE Benchmark Administration (IBA), the FCA-regulated and authorised administrator of LIBOR, announced that it will consult on its intention that the euro, sterling, Swiss franc and…
Eye on IBOR Transition
“The End is Nigh”: UK FCA Issues Consultations Regarding Expected New Benchmark Powers in Response to ICE Benchmark Announcement; ISDA Issues Related Statement
By J. Paul Forrester, Mary Jo N. Miller, Aaron Gavant
On November 18, 2020, ICE Benchmark Administration (“IBA”), the authorized administrator of LIBOR regulated by the UK Financial Conduct Authority (“FCA”), announced that it will consult on its intention to…
Global Regulation Tomorrow
The LIBOR Transition – US Banking Agencies issue statement on replacement rates
By Patrick Dolan (US), Kathleen Scott (US), Mary Kate Fields (US)
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (collectively, the “Banking Agencies”) issued a statement…
Crunched Credit
Inexorably SOFR…But Hang On!
By Rick Jones
Timing is everything. I published a piece two weeks ago on LIBOR transition to SOFR and suggested that folks get on with it and embrace this flawed but seemingly inevitable…
Global Regulation Tomorrow
The LIBOR Transition – New York State introduces LIBOR replacement legislation
When the use of LIBOR as a reference rate in financial contracts is phased out at the end of 2021, those contracts currently utilizing LIBOR may face costly litigation, renegotiation…
Crunched Credit
LIBORcast: A Conversation with David Bowman, Federal Reserve Board
Since nothing is happening in the news right now, we thought we would put out a second post on LIBOR this week. As you may know, Dechert has a LIBOR…
Eye on IBOR Transition
ARRC Requests Changes to Bank Regulatory Capital and Liquidity Requirements to Facilitate Transition from LIBOR to SOFR
By J. Paul Forrester, Matthew Bisanz, Jeffrey P. Taft
In a detailed 25-page memorandum to U.S. prudential banking regulators,[1] the Alternative Reference Rates Committee detailed concerns regarding the transition from LIBOR to SOFR and possible effects on current U.S.…
Eye on IBOR Transition
Promised UK ‘Tough Legacy’ Legislation Released; HM Treasury Issues Supporting Policy Statement
By J. Paul Forrester, Ashley McDermott, Ravi Amin
The UK Government released its promised[1] draft legislation, Financial Services Bill 200, on October 20, 2020,[2] to assist the ‘tough legacy’ issue for certain LIBOR-referencing contracts by providing the UK’s…