News & Analysis as of

Banking Sector Swaps Derivatives

Cadwalader, Wickersham & Taft LLP

NatWest Derivatives Judgement

A recent High Court judgment in a case where NatWest won a claim against CMIS arising under derivative transactions raises several issues of law with practical implications for the structuring of complex finance deals....more

Latham & Watkins LLP

“SOFR First” Initiative Takes Flight

Latham & Watkins LLP on

As the countdown to the LIBOR sunset enters its final six months, the CFTC staff is trying to help the market transition. With less than six months to go before the London Interbank Offered Rate (LIBOR) expires on December...more

Katten Muchin Rosenman LLP

Tax Implications of LIBOR Reform

LIBOR (London Interbank Offered Rate) is a set of interest rate benchmarks based on the rates at which banks are willing to borrow wholesale-unsecured funds. It is used in numerous financial instruments such as loans,...more

Holland & Knight LLP

Libor Discontinuation: Update for Floating Rate Borrowers

Holland & Knight LLP on

This alert provides a brief summary of a recent development that may impact borrowers that hedge floating rate debt. ...more

Troutman Pepper Locke

Regulatory Considerations in the Death of LIBOR — Recent Guidance Suggests a Partial Stay of Execution

Troutman Pepper Locke on

Who Needs to Know - Lenders and borrowers involved in financing transactions, any companies using LIBOR swap or derivative transactions. ...more

Seyfarth Shaw LLP

Undeterred by the COVID-19 Pandemic, ARRC Publishes on April 8, 2020 a Methodology for Addressing Differences between LIBOR and...

Seyfarth Shaw LLP on

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

Dorsey & Whitney LLP

Preparing for LIBOR Substitution - Commercial and Consumer Lending Considerations

Dorsey & Whitney LLP on

As of December 31, 2021 (the “Effective Date”), the use of LIBOR as an index for commercial and consumer loans will likely cease - which presents lenders and other industry participants with the challenges to address: (a) the...more

Opportune LLP

LIBOR Phase-Out: Considerations for Oil & Gas Companies

Opportune LLP on

With over $370 trillion of global financial contracts referencing LIBOR (London Inter-bank Offered Rate), many oil and gas companies are curious about how the phase-out of LIBOR by 2021 could impact their organization. Many...more

Jones Day

AFG Supports New ISDA French Law Documentation

Jones Day on

The endorsement of Europe's largest asset management association should promote use of the new 2002 ISDA Master Agreement (French law) on the European OTC derivatives market....more

Jones Day

Ziggo: Another Definitional Split in the Credit Default Swap Market

Jones Day on

A recent decision reminds credit swap market participants that thorough knowledge of the documentation and definitions relating to a particular credit default swap is critical....more

Hogan Lovells

FCA Announces Discontinuation of LIBOR

Hogan Lovells on

As you may know, on July 27, 2017 the UK's Financial Conduct Authority (FCA) chief executive Andrew Bailey announced that market participants should not rely on the London Interbank Offered Rate (LIBOR) being available after...more

Skadden, Arps, Slate, Meagher & Flom LLP

LIBOR Replacement Plans Bring Regulatory Considerations for Derivatives

Plans to end the long reign of the London Interbank Offered Rate (LIBOR) as one of the world's most often-used interest rate benchmarks have recently been confirmed by several top financial regulators. On July 27, 2017,...more

Cadwalader, Wickersham & Taft LLP

English Court of Appeal Confirms Primacy of Choice of Governing Law Clause in ISDA Master Agreements

On 15 June 2017 the English Court of Appeal handed down a significant judgment in Dexia Crediop S.p.A. v Comune di Prato. The Court’s unanimous judgment confirmed that the nature of an agreement made pursuant to an ISDA...more

Proskauer - Tax Talks

Federal Appellate Court Rules that Certain Foreign Currency Options Are Subject to the Section 1256 Mark-to-Market Regime

Proskauer - Tax Talks on

Recently, in Wright v. Commissioner, the United States Court of Appeals for the Sixth Circuit has reopened the question of the application of Section 1256 to foreign currency options (and also, possibly, to foreign currency...more

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