Summary -
As a result of the shift from LIBOR to the Secured Overnight Finance Rate (SOFR), borrowers who use interest rate swaps or options to manage interest rate risk may be asked to pay extra to maintain a hedge under...more
6/13/2023
/ Alternative Reference Rates Committee (ARRC) ,
Bank Loan Markets ,
Borrowers ,
CFTC ,
Consumer Financial Products ,
Financial Services Industry ,
Lenders ,
Libor ,
Loans ,
Proposed Legislation ,
Secured Overnight Funding Rate (SOFR)
Summary -
The Alternative Reference Rate Committee (ARRC), convened by the Federal Reserve Board and the New York Fed to help ensure a successful transition from LIBOR to SOFR, this week published its LIBOR Legacy...more
Although regulators have rebuffed industry efforts to have tender option bonds (TOBs) exempted from the final credit risk retention rule (the CRRR), they have nevertheless provided some helpful changes and clarifications that...more