Topic
LIBOR Transition
277 published works
Eye on IBOR Transition
Switching to SOFR: Proposed Rule Published to Implement the 2022 Federal LIBOR Act
By Matthew Bisanz, David K. Duffee, Aaron Gavant, Mary Jo N. Miller, Sagi Tamir
On 19 July 2022, the Federal Reserve Board (the “Board”) published a notice of proposed rulemaking – Regulation Implementing the Adjustable Interest Rate (LIBOR) Act, as it was required to…
Consumer Finance Monitor
LIBOR committee publishes ‘playbook’ as a guide for final year of conversion
By John L. Culhane, Jr., Richard J. Andreano, Jr.
In 2017, the United Kingdom’s Financial Conduct Authority (FCA), the regulator that oversees the panel of banks on whose submissions LIBOR is based, announced plans to discontinue LIBOR after 2021. …
Rocky Mountain Real Estate Law
The LIBOR Act: A federal legislative solution for legacy contracts as LIBOR ends
As we originally reported in our September 2018 Otten Johnson Alert, the London Interbank Offered Rate (“LIBOR”), once the primary benchmark used for floating rate commercial loans, is nearing its…
Eye on IBOR Transition
No foolin’: USD LIBOR to sunset one year from today
By Mary Jo N. Miller, David K. Duffee, J. Paul Forrester
Market participants have been warned not to kid themselves. The last remaining settings of the London InterBank Offered Rate—those relating to select US Dollar tenors—are scheduled to become unavailable following…
Eye on IBOR Transition
LIBOR Phase Out – Tax Implications in the Context of Related-Party Loans
By Steven D. Garden, Anthony D. Pastore, Scott Stewart, John T. Hildy
As market participants evaluate their loan portfolios and implement strategies to transition away from the London Interbank Offered Rate (“LIBOR”), they must address not only third-party loans, but related-party loans…
The CLS Blue Sky Blog
Cleary Gottlieb Discusses the LIBOR Act, State Law, and Litigation Risks
By Rishi Zutshi, Jeffrey Karpf, Duane McLaughlin, Elizabeth Chang
On March 15, 2022, President Biden signed into law the Adjustable Interest Rate (LIBOR) Act (the “LIBOR Law”).[1] The objectives of the legislation are to facilitate the transition of legacy…
Global Regulation Tomorrow
FSB welcomes smooth transition from LIBOR
On 5 April 2022, the Financial Stability Board (FSB) issued a statement welcoming the smooth transition away from LIBOR at the end of last year. The FSB also reminds firms…
Financial Services Perspectives
The LIBOR Act: 7 Key Things Financial Institutions Need to Know about the New Law in Preparation for the LIBOR Transition in 2023
On March 15, 2022, the Consolidated Appropriations Act, 2022 – which included the Adjustable Interest Rate (LIBOR) Act – was signed into law. The LIBOR Act is meant to address…
The CLS Blue Sky Blog
Sullivan & Cromwell Discusses Federal LIBOR Transition Legislation
By Jordan Wish, Rodge Cohen, Ben Weiner
On March 15, 2022, President Biden signed into law the “Consolidated Appropriations Act, 2022,” which enjoyed significant bipartisan support and contains, as Division U, the “Adjustable Interest Rate (LIBOR) Act” (the…
Eye on IBOR Transition
Consolidated Appropriations Act Advances Federal LIBOR Transition Solution
By Mary Jo N. Miller, Andrew J. Olmem, David K. Duffee, J. Paul Forrester
With the inclusion of the Adjustable Interest Rate (LIBOR) Act (the “LIBOR Act”) as Division U of H.R. 2471, Consolidated Appropriations Act, 2022 (the “Appropriations Act”) passed by the U.S.…