Topic
LIBOR Transition
277 published works
Global Regulation Tomorrow
Best practice guidance – transition from LIBOR for SME customers
On 28 October 2020, UK Finance and the Lending Standards Board launched a report covering ‘Best Practice Guidance in Transition from LIBOR for SME customers’. The objectives of the report…
Corporate & Financial Weekly Digest
FSB Publishes Global Transition Roadmap on LIBOR
By Carolyn H. Jackson, Nathaniel Lalone, Neil Robson
On October 16, the Financial Stability Board (FSB) published a global transition roadmap, including a timetable of actions to be taken by financial and non-financial institutions exposed to the London…
Global Regulation Tomorrow
HMT Policy Paper – Amendments to the Benchmarks Regulation to support LIBOR transition
By Hannah Meakin (UK), Hannah McAslan (UK)
On 21 October 2020, HM Treasury published a Policy Paper ‘Amendments to the Benchmarks Regulation to support LIBOR transition’. The Policy Paper refers to the Financial Services Bill (Bill) that…
The CLS Blue Sky Blog
Preparing for the Transition from LIBOR to SOFR: The ARRC Recommendations
The London Interbank Offered Rate (LIBOR) has been the standard floating rate benchmark for debt instruments of all kinds around the world for decades. It is calculated every banking day…
Eye on IBOR Transition
US CFTC Provides Reporting Relief for Swaps Related to Upcoming DCO Auctions Required for LIBOR Transition
By J. Paul Forrester, Matthew Bisanz
On October 13, 2020, the Division of Market Oversight of the Commodity Futures Trading Commission ("CFTC") issued swap transaction and pricing data reporting relief to specific derivatives clearing organizations ("DCOs")…
Corporate & Financial Weekly Digest
ISDA Efforts to Help Markets Deal With LIBOR Replacement Clear DOJ Hurdle
On October 1, the United States Department of Justice (DOJ) issued a favorable business review letter to the International Swaps and Derivatives Association (ISDA) that clears the way for ISDA…
Eye on IBOR Transition
The LSTA Proposes Changes to Trading Documents for LIBOR Transition
By J. Paul Forrester, Monique J. Mulcare, Mary Jo N. Miller
On September 28, 2020, the Loan Syndication and Trading Association (“LSTA”)[1] exposed draft revisions to the LSTA form of Par/Near Par Loan Trade Confirmation Standard Terms and Conditions to facilitate…
Eye on IBOR Transition
LSTA Exposes Draft Supplemental Indenture for Legacy CLOs Without Fallbacks in Order to Facilitate Transition from LIBOR
By J. Paul Forrester, Joanna C. Nicholas, Mary Jo N. Miller
On October 2, 2020, the US Loan Syndication and Trading Association ("LSTA")[1] released for comment an exposure draft of LIBOR Replacement Provisions for Amendment of CLO Indenture and announced its…
Corporate & Financial Weekly Digest
FCA Publishes Webpage for LIBOR Transition
By Carolyn H. Jackson, Nathaniel Lalone, Neil Robson
On September 17, the UK’s Financial Conduct Authority (FCA) published a new webpage for firms advising on the London Inter-bank Offered Rate (LIBOR) transition. The key considerations set forth by…
Eye on IBOR Transition
Three LIBOR Transition Considerations for Syndicate Lenders
By Kiel A. Bowen, Adam C. Wolk, Caitlin E. Woolford
Borrowers and administrative agents in the syndicated loan markets continue to negotiate and fine-tune various fallback provisions related to LIBOR transition. Although pricing had traditionally been considered a “sacred right”…