News & Analysis as of

United Kingdom Libor Financial Regulatory Reform

ArentFox Schiff

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

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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

ArentFox Schiff

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

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On October 1, 2024, the United Kingdom Financial Conduct Authority (UK FCA) phased out ‘Zombie’ LIBOR, as a transitional benchmark, with the move to alternative “risk-free” rates....more

Cadwalader, Wickersham & Taft LLP

FCA Seeks Feedback on ‘Synthetic’ USD LIBOR

On November 23, the UK’s Financial Conduct Authority (“FCA”) released its further consultation to require the administrator of LIBOR to publish a synthetic version of 1-, 3-, and 6-month U.S. dollar LIBOR settings for a...more

Cadwalader, Wickersham & Taft LLP

FCA Issues Statement on the End of Synthetic Sterling LIBOR

On September 29, the UK’s Financial Conduct Authority (“FCA”) issued a statement that the publication of the 1-month and 6-month synthetic sterling LIBOR would permanently cease at the end of March 2023....more

Cadwalader, Wickersham & Taft LLP

FCA Consultation on the Winding Down of Synthetic Sterling LIBOR and the Future of US Dollar LIBOR

Recently the Financial Conduct Authority (“FCA”) announced a consultation seeking comments on the winding down of one-, three- and six-month synthetic sterling LIBOR settings and on the future of the remaining US dollar...more

Proskauer Rose LLP

Regulation Round Up - April 2022

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Key developments in April 2022: 29 April - The Financial Stability Board (“FSB”) published for consultation an interim report that recommends measures to assist supervisory and regulatory authorities in developing...more

Hogan Lovells

Banking and finance regulatory news, May 2021 # 2

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2022/23 supervisory benchmarking exercise for capital internal models: PRA statement - The UK Prudential Regulation Authority (PRA) has published a statement on its expectations concerning the 2022 and 2023 supervisory...more

Hogan Lovells

Banking and finance regulatory news, April 2021 # 3

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Regulation of non-transferable debt securities: HM Treasury consultation HM Treasury has published a consultation paper on the regulation of non-transferable debt securities (NTDS) (often referred to as mini-bonds)....more

Hogan Lovells

Securities and markets regulatory news, April 2021

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LIBOR transition: FCA and BoE encourage switch to SONIA in sterling non-linear derivatives market - The Financial Conduct Authority (FCA) and the Bank of England (BoE) have published a joint statement announcing that they...more

Hogan Lovells

Financial institutions general regulatory news, March 2021 # 3

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AI Public-Private Forum: BoE publishes minutes of second meeting The Bank of England (BoE) has published minutes from the second meeting of the Artificial Intelligence Public-Private Forum (AIPPF), which was held on 26...more

Hogan Lovells

Banking and finance regulatory news, March 2021 # 2

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LIBOR transition: Working Group's best practice guide for GBP loans and Q&A - The Working Group Sterling Risk-Free Reference Rates published a best practice guide for GBP loans. Alongside the guide, the Working Group also...more

Hogan Lovells

Banking and finance regulatory news, February 2021 # 3

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Capital internal models: PRA statement on 2021 supervisory benchmarking exercise - The UK Prudential Regulation Authority (PRA) has published a statement to provide greater clarity for credit institutions that are in scope...more

Hogan Lovells

Securities and markets regulatory news, February 2021

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LIBOR cessation: FCA speech - The FCA has published a speech given by Edwin Schooling Latter, FCA Director of Markets and Wholesale Policy, on being ready for life without LIBOR from the end of 2021. ...more

Hogan Lovells

Financial institutions general regulatory news, October 2020 # 4

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COVID-19: FCA proposes additional guidance for insurance and premium finance firms on customers in financial difficulty - The FCA has published draft additional guidance for insurance and premium finance firms, setting...more

Hogan Lovells

Banking and finance regulatory news, September 2020 # 3

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Branch and ATM closures or conversions: FCA FG20/3 - Following consultation, the UK Financial Conduct (FCA) has published finalised guidance, FG20/3, on branch and ATM closures or conversions. The guidance applies to...more

Hogan Lovells

Banking and finance regulatory news, September 2020

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COVID-19: PRA statement on application of IFRS 9 and capital requirements as mortgage payment deferrals come to an end - On 26 August 2020, the UK Prudential Regulation Authority (PRA) published a statement to clarify its...more

Hogan Lovells

Debt Capital Markets – Global Insights – Spring 2020

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We are delighted to present the Spring 2020 edition of Hogan Lovells’ Debt Capital Markets Global Insights. This draws together a collection of articles from across our global network, reflecting on current events and topical...more

Shumaker, Loop & Kendrick, LLP

Client Alert: What to do about the Libor Time Bomb? ARRC Adopts Recommended Fall-Back Language for Libor Based Credit Facilities

As has been widely published in the financial services sector, the Financial Conduct Authority in the United Kingdom (FCA) has determined that banks will no longer be compelled to support the London Interbank Offered Rate...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Some reaction to the HQ2 x2 news, including what a pair of new tech hubs actually means for the cities that have thrown out the red carpet to Amazon and other technology giants....more

Herbert Smith Freehills Kramer

Replacing LIBOR in Derivatives Transactions: A Complex Undertaking

The London interbank offered rate (LIBOR), the submission of which will cease to be mandated by the U.K. Financial Conduct Authority in 2021 as a result of concerns over its reliability and robustness due to its lack of...more

Sullivan & Worcester

Après LIBOR: Black Swan or Y2K

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A practical guide to the cessation of LIBOR and the transition to a new replacement benchmark rate. Unquestionably, the London Inter-Bank Offered Rate ("LIBOR") is an integral part of nearly every type of financial product...more

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