On April 6, 2021, New York Governor Andrew Cuomo signed into law the New York State Legislature’s Senate Bill 297B/Assembly Bill 164B (the New York LIBOR Legislation), strengthening the groundwork for the forthcoming...more
5/6/2021
/ Alternative Reference Rates Committee (ARRC) ,
Benchmarks ,
Contracts Clause ,
Federal Reserve ,
Governor Cuomo ,
Interest Rates ,
Legacy Contracts ,
Libor ,
New Legislation ,
Preemption ,
Safe Harbors ,
Secured Overnight Funding Rate (SOFR) ,
Trust Indenture Act
On 5 March 2021, the UK Financial Conduct Authority (FCA) and the administrator of LIBOR, ICE Benchmark Administration (IBA) each made important announcements for parties to instruments or other contracts referencing LIBOR. ...more
Regulators are increasing pressure on financial institutions to demonstrate that they are proactively addressing the transition away from LIBOR. On December 23, 2019, the New York State Department of Financial Services...more
1/13/2020
/ Alternative Reference Rates Committee (ARRC) ,
Audit Committee ,
Banking Sector ,
Benchmarks ,
Broker-Dealer ,
CFTC ,
Compliance ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
Form 10-K ,
Form 10-Q ,
Insurance Industry ,
Interest Rates ,
Investment Adviser ,
Investment Funds ,
ISDA ,
Libor ,
NYDFS ,
Prudential Regulation Authority (PRA) ,
Publicly-Traded Companies ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC)
On September 19, 2018, the International Swaps and Derivatives Association, Inc. (ISDA) published the ISDA Benchmarks Supplement, which allows adhering entities to amend the contractual triggers and fallbacks of...more
Dramatic changes are on the horizon for the most widely used benchmarks for interest, investment and derivatives rates: the London Interbank Offered Rate (LIBOR) for various currencies. Notwithstanding efforts by regulators...more
8/21/2018
/ Banking Sector ,
Benchmarks ,
EU Benchmark Regulation ,
Financial Conduct Authority (FCA) ,
Interest Rates ,
ISDA ,
ISDA Master Agreement ,
Libor ,
Regulatory Agenda ,
Secured Overnight Funding Rate (SOFR) ,
UK