On March 25, 2021, the Alternative Reference Rates Committee (the “ARRC”) issued supplemental guidance to its recommended hardwired fallback language for U.S. dollar LIBOR denominated syndicated and bilateral business loans....more
The U.S. dollar LIBOR interest rate index is the most widely used variable interest rate benchmark in the world, serving as the reference rate for over an estimated $200 trillion of financial products worldwide, and official...more
10/30/2020
/ Alternative Reference Rates Committee (ARRC) ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Transactions ,
Interest Rates ,
ISDA ,
ISDA 2020 IBOR Fallbacks Protocol (Protocol) ,
Libor ,
Loan Agreements ,
Secured Overnight Funding Rate (SOFR) ,
UK
As the title suggests, U.S. LIBOR (LIBOR) is going away, with official announcements expected as soon as year-end 2020 of LIBOR’s December 31, 2021 demise. The end of LIBOR will be replete with a plethora of risks for banks,...more
10/23/2020
/ Borrowers ,
Capital Markets ,
Credit Agreements ,
Federal Reserve ,
Interest Rate Hedging Product ,
Interest Rates ,
Legislative Agendas ,
Lenders ,
Libor ,
Loans ,
Mortgages ,
Private Fund Limited Partnerships (PFLPs) ,
Regulatory Oversight ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Transfers of Value ,
U.S. Treasury