The Consumer Financial Protection Bureau (the Bureau) has issued final regulations (Final Regulations) to facilitate the transition away from Libor (the London Interbank Offered Rate) in the consumer credit market and to...more
12/21/2021
/ Adjustable-Rate Mortgage ,
Alternative Reference Rates Committee (ARRC) ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Reserve ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
FSB ,
HELOC ,
Interest Rates ,
ISDA ,
Libor ,
Mortgages ,
Regulation Z ,
Regulatory Standards ,
Secured Overnight Funding Rate (SOFR) ,
Truth in Lending Act (TILA) ,
UK
This alert provides a brief summary of a recent development that may impact borrowers that hedge floating rate debt. ...more
The Intercontinental Exchange (ICE) Benchmark Administration (IBA), which is the administrator of the London Interbank Offered Rate (Libor), announced on Nov. 30, 2020, that it will consult in early December on its intention...more
12/1/2020
/ Benchmarks ,
Board of Governors ,
Consultants ,
EU ,
FDIC ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
ISDA ,
Libor ,
OCC ,
UK
The Board of Governors of the Federal Reserve System and the Federal Reserve Bank of New York convened the Alternative Reference Rates Committee (ARRC) in 2014 to develop an alternative rate and conversion methodology for the...more
The New York Federal Reserve Bank's Alternative Reference Rates Committee (ARRC) released its recommendations on Nov. 15, 2019, regarding the London Interbank Offered Rate Index (Libor Index) fallback language for new...more
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have jointly issued proposed regulations (Proposed Regulations) to address concerns and reduce uncertainty regarding the tax impact of the anticipated...more
10/28/2019
/ Alternative Reference Rates Committee (ARRC) ,
Comment Period ,
Derivatives ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Stability Board ,
Interest Rates ,
Internal Revenue Code (IRC) ,
IRS ,
ISDA ,
Libor ,
Proposed Regulation ,
Secured Overnight Funding Rate (SOFR) ,
Tax Liability ,
U.S. Treasury
• The Alternative Reference Rates Committee (ARRC) recently released proposed fallback language for Libor-based floating rate note (FRN) transactions in anticipation of the cessation of Libor in 2021.
• The board of...more