On 5 March 2021, the Financial Conduct Authority ("FCA") announced (the "FCA Announcement") the future cessation or loss of representativeness for all 35 LIBOR settings currently published by ICE Benchmark Administration...more
LIBOR, the reference rate for more than US$300 trillion of contracts globally and nearly US$200 trillion of US dollar contracts, is expected to cease after the end of 2021. In highlighting the limitations of the LIBOR reforms...more
9/17/2019
/ Alternative Reference Rates Committee (ARRC) ,
Banks ,
Derivatives ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Interest Rates ,
IOSCO ,
Lenders ,
Libor ,
Secured Overnight Funding Rate (SOFR) ,
Transitional Arrangements ,
UK
In 2012, the Wheatley Review recommended reform rather than replacement of LIBOR, on the basis that a transition to a new benchmark would pose an unacceptably high risk of financial instability. Reform came in the form of a...more
9/4/2019
/ Banking Sector ,
Benchmarks ,
Bonds ,
Compound Interest ,
Derivatives ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Interest Rates ,
ISDA ,
Lenders ,
Libor ,
Loan Market Association ,
Loans ,
Prudential Regulation Authority (PRA) ,
Public Consultations ,
Sterling Overnight Index Average (SONIA) ,
UK ,
Working Groups