On April 8, 2020, the Alternative Reference Rate Committee (“ARRC”) agreed to align itself with the International Swaps and Derivatives Association, Inc. (“ISDA”), in recommending to the market a “spread adjustment”...more
4/10/2020
/ Alternative Reference Rates Committee (ARRC) ,
Banking Sector ,
Benchmarks ,
Central Counterparties ,
Clearing Agencies ,
Derivatives ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Interest Rates ,
Libor ,
Market Participants ,
Secured Overnight Funding Rate (SOFR) ,
Strategic Planning ,
Swaps ,
UK
The replacement of the London Inter-bank Offered Rate (“LIBOR”) in contracts evidencing loan, derivative and other transactions with maturities extending beyond 2021 is a massive undertaking involving legal and compliance...more
For the first time in the history of derivatives, regulators in leading markets will require assets to collateralize many derivatives which are not settled in a regulated clearinghouse.
It is not possible to overstate...more