Topic
LIBOR Transition
277 published works
The Fintech Report
Fintech Week in Review: Week of February 7, 2020
Weekly Fintech Focus The CFPB issues a policy statement to clarify the “abusiveness” standard. CFPB proposes a settlement with payday lending company linked to tribal lender. Visa will modify interchange…
Consumer Financial Services Review
Fannie Mae and Freddie Mac Issue Guidance for LIBOR-less World
By Laurence E. Platt, David A. Tallman, Francis L. Doorley, Christopher G. Smith, Kris D. Kully
We recently discussed the efforts of the Alternative Reference Rates Committee (ARRC) to prepare for the upcoming discontinuance of LIBOR as an index rate for residential mortgage and consumer loans.…
Derivatives & Repo Report
LIBOR Transition Planning: ISDA Makes Important Annoucements About LIBOR Replacement Language for Swaps
By Perkins Coie
On February 5, the International Swaps and Derivatives Association ("ISDA") announced that it will seek additional information from market participants about the development of contractual language that can be used…
Global Regulation Tomorrow
The LIBOR Transition – SFA Survey on Potential LIBOR Transition Solutions for Securitization Market Legacy Vehicles and Instruments
By Patrick Dolan (US), Kathleen Scott (US), Mary Kate Fields (US)
Following up on our past posts, in this update on the transition away from LIBOR (London Interbank Offering Rate), and other interbank offering rates (“IBOR”) denominated in other currencies, we…
Derivatives & Repo Report
The ARRC Publishes a Buy-Side Checklist and Vendor Survey for LIBOR Transition / SOFR Adoption
By Perkins Coie
The Alternative Reference Rates Committee ("ARRC") has published a Buy-Side/Asset Owner Checklist (the "Buy-Side Checklist") that is intended to assist asset managers and asset owners transition from U.S. Dollar (USD)…
Free Writings + Perspectives
SEC Statement on LIBOR Replacement: First Analysis
This article discusses the public statement dated July 12, 2019, made by the Securities and Exchange Commission’s (SEC) Division of Corporation Finance, Investment Management and Trading and Markets, and the…
Retained Interest
Going Through Changes: Transitioning to a LIBOR-less World for Consumer Loans
By Laurence E. Platt, David A. Tallman, Francis L. Doorley, Christopher G. Smith
It is widely anticipated that the London Interbank Offered Rate (“LIBOR”) will be discontinued in 2021. As LIBOR commonly is used as an index rate for both residential mortgage and…
Crunched Credit
Quick Note: The ARRC Spread Adjustment Consultation
The ARRC Consultation on Spread Adjustment Methodologies for Fallbacks in Cash Products Referencing USD LIBOR is finally here. How the spread adjustment from LIBOR to a SOFR index will be calculated…
Global Regulation Tomorrow
FCA and IBA response to ISDA letter providing clarity of implications of non-representative LIBOR
By Hannah Meakin (UK), Hannah McAslan (UK)
On 24 January 2020, the FCA published a letter from Richard Fox, FCA Head of Markets Policy, to the International Swaps and Derivatives Association (ISDA) (dated 20 January 2020) explaining…
Global Regulation Tomorrow
Working Group on Sterling Risk-Free Reference Rates: progress on the transition of LIBOR – referencing legacy bonds to SONIA by way of consent solicitation
By Davide Barzilai (UK), Andrew Coote
On 16 January 2020, the Working Group on Sterling Risk-Free Reference Rates (RFRWG) published a statement entitled "Progress on the transition of LIBOR – referencing legacy bonds to SONIA by…