The High Court of England and Wales has recently provided welcome clarification around the nature of events of default under derivatives contracts governed by the ISDA Master Agreement, in particular in relation to whether an...more
Significant changes are taking place to certain inter-bank offered rates (IBORs) commonly used as interest rates in derivatives and other financial contracts. In the UK, LIBOR (the London inter-bank offered rate) is expected...more
The International Swaps and Derivatives Association, Inc. (ISDA) has launched the ISDA 2020 IBOR Fallbacks Protocol -
Who should read this Client Alert?
If you have derivatives contracts that are linked to, or refer to,...more
The International Swaps and Derivatives Association, Inc. (ISDA) has published the ISDA 2020 IBOR Fallbacks Protocol (the IBOR Fallbacks Protocol). This client alert sets out key issues counterparties may wish to consider in...more
The International Swaps and Derivatives Association, Inc. (ISDA) has just announced that the ISDA 2020 IBOR Fallbacks Protocol will be launched on 23 October 2020....more
The current COVID-19 pandemic has already impacted many derivatives transactions. This note sets out a checklist of key legal issues market participants may need to consider in relation to OTC derivatives contracts....more
7/4/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Business Disruption ,
Contract Termination ,
Contract Terms ,
Coronavirus/COVID-19 ,
Derivatives ,
Dispute Resolution ,
Financial Markets ,
Force Majeure Clause ,
IOSCO ,
ISDA Master Agreement ,
Market Participants ,
Material Adverse Events ,
Notice Requirements ,
Over The Counter Derivatives (OTC) ,
Popular ,
Risk Assessment
The current COVID-19 pandemic has led to huge disruption in financial markets and larger collateral swings. This note sets out some issues market participants may need to consider in relation to collateral under OTC...more
5/4/2020
/ Basel Committee on Banking Supervision (BCBS) ,
Collateral ,
Coronavirus/COVID-19 ,
Counterparties ,
Derivatives ,
EU ,
Financial Markets ,
IOSCO ,
ISDA ,
Margin Requirements ,
Over The Counter Derivatives (OTC)
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
10/10/2017
/ Banking Sector ,
Benchmarks ,
Capital Markets ,
Derivatives ,
Financial Conduct Authority (FCA) ,
Interest Rates ,
ISDA ,
Libor ,
Loan Agreements ,
Loan Market Association ,
Sterling Overnight Index Average (SONIA) ,
Swaps ,
UK