Term SOFR: An Inch Closer – and An Inch From the Finish Line?
By Tess Virmani. Today the ARRC announced the market indicators that would enable the ARRC to recommend a forward-looking term SOFR (“Term SOFR”).
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A Path to Term SOFR?
In March, the Alternative Reference Rates Committee stated that it i) might not recommend a term SOFR rate by YE2021 and ii) was “evaluating the…
LSTA Newsletter: March 26, 2021
This week in review Tess Virmani explains why the ARRC published Abridged Hardwired Fallback Language… and why it makes your life so much easier, Meredith…
ARRC Legislative Fix has Passed
New York State Legislature has now passed the legislation (Senate Bill 297B/Assembly Bill 164B), proposed by the ARRC and sponsored by New York Senator Kevin…
LIBOR Hardwired Fallbacks: Better & More Useable
Today the Alternative Reference Rates Committee (ARRC) published supplemental recommendations of abridged hardwired fallback language for both syndicated business loans and bilateral business loans. We…
Term SOFR: Not in the Near Term?
This week, the ARRC publicized its stance on Forward Looking Term SOFR. First, the ARRC announced that it would not be in a position to…
An Update on ARRC and Supervisory Statements on LIBOR Cessation
As we previously reported – and as we had long anticipated – on Friday, March 5, 2021, the Ice Benchmark Administration (“IBA”) and U.K.’s Financial…
ARRC Weighs in on the IBA and FCA Statements
The ARRC confirms that in its opinion the March 5, 2021 announcements by ICE Benchmarks Administration and the U.K. Financial Conduct Authority on future cessation…
LIBOR: Basis Risk, Death & Space Mountain
Today, LSTA EVP Meredith Coffey led an ARRCist keynote panel at IMN’s LIBOR 2021 Conference. The panel began with “50 Ways to Leave Your LIBOR”…
Timing LIBOR’s End
With recent announcements around LIBOR cessation, it can be hard to keep all the deadlines straight. For this reason, the LSTA created a simple USD…
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