News & Analysis as of

Borrowers Libor Banking Sector

ArentFox Schiff

The End of LIBOR: Hotel California Edition [Part III]

ArentFox Schiff on

During the London InterBank Offered Rate (LIBOR) transition, and post LIBOR’s end date of June 30, 2023, the goal for all should be that (1) the effective interest rates be generally economically equivalent as a result of the...more

Seward & Kissel LLP

"So Long Synthetic LIBOR"

Seward & Kissel LLP on

Earlier this year, the Financial Conduct Authority (FCA) exercised its powers pursuant to Article 21(3) of the Benchmarks Regulation to compel ICE Benchmark Administration (IBA) to continue publishing 1-month, 3-month and...more

ArentFox Schiff

The End of LIBOR: Hotel California Edition (Part I)

ArentFox Schiff on

Although July 3 was the first business day on which no USD LIBOR was published, many financial instruments will not reset until the next reset date, based upon the tenor of each instruments’ underlying benchmark, which could...more

Paul Hastings LLP

Loan Market Update: Q1-Q3 Recap, Trends & What’s Next

Paul Hastings LLP on

From Q1-Q3 of 2023, the U.S. loan market was marked by novel deal patterns and uneven market activity. Initially, the bulk of deals were portfolio work, including amend & extend transactions, covenant relief amendments and...more

Sullivan & Worcester

Drawing the line – Where are we now on USD LIBOR transition in the trade finance sector?

Sullivan & Worcester on

Jacqueline Cook, Of Counsel and Larissa Head, Trainee Solicitor, provide an update on the transition away from USD LIBOR with the deadline of 30 June 2023 upon us. What do market participants in the trade finance industry...more

Hogan Lovells

[Webinar] How mortgage companies can respond to and manage the LIBOR SOFR transition - May 20th, 2:00 pm - 3:00 pm EDT

Hogan Lovells on

Please join Hogan Lovells and CAPCO for a webinar on Thursday, May 20 for a panel discussion on the LIBOR SOFR transition and how mortgage companies can manage the process. Speakers will discuss transition planning, strategic...more

Adler Pollock & Sheehan P.C.

The LIBOR Phase-Out: What Borrowers Should Know Now

The London Interbank Offered Rate (“LIBOR”) is a benchmark interest rate index used in setting the interest rate for many variable-rate loans and other financial obligations. LIBOR is currently set to be phased out in...more

Goodwin

Financial Services Weekly Roundup: SEC Proposes Modified Disclosure Framework For Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Goodwin

Financial Services Weekly News: Agencies Finalize Community Bank Leverage Ratio And Amend Swap Margin Rule

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (FRB), Office of the Comptroller of the Currency (OCC), and Federal Deposit Insurance Corporation (FDIC) (together, the federal banking agencies) finalized...more

Saul Ewing LLP

How to Survive the Zombie LIBOR Apocalypse

Saul Ewing LLP on

They’re out there now, in small towns and big cities, getting ready to rise up and wreck financial havoc on unsuspecting bond issuers and borrowers. Unless they’re sought out early and neutralized, the zombie LIBOR interest...more

Cooley LLP

Blog: Companies begin to air LIBOR phase-out risks/SOFR volatility

Cooley LLP on

As previously discussed, one of the risk areas that SEC staff have advised they will be monitoring and have urged companies to address—and soon—is the effect of the LIBOR phase-out. LIBOR, the London Interbank Offered Rate,...more

Steptoe & Johnson PLLC

LIBOR To Be Discontinued! What Will Your Bank Do?

Steptoe & Johnson PLLC on

In case you haven’t heard, the London Interbank Offered Rate (“LIBOR”) may be phased out by the end of 2021. Why? Because the Financial Conduct Authority (“FCA”) in the U.K. announced in July 2017 that it will stop requiring...more

Mintz - Real Estate, Construction &...

LIBOR Phase Out: Important Considerations for Negotiating Loan Documents

On July 27, 2017, the United Kingdom Financial Conduct Authority announced, without specifying a replacement, that it would phase-out the London Interbank Offer Rate (LIBOR) by the end of 2021. LIBOR, a rate measured by...more

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