On July 29, 2021, the Alternative Reference Rates Committee of the Federal Reserve Bank of New York (the “ARRC”) officially recommended for usage the forward-looking SOFR term rates (collectively, “Term SOFR”) published by...more
Clients who have engaged in Qualified Financial Contracts (QFCs)—which include derivatives, repurchase agreements and securities lending—with large financial institutions may have received, or may soon receive, a notice...more