An update from the Dechert LIBOR taskforce - On July 29, 2021, the Alternative Reference Rates Committee (the “ARRC”) formally recommended the forward-looking term rates based on the secured overnight financing rate (“SOFR”)...more
Andrew Bailey’s most recent speech on LIBOR transition (now in his new capacity as Governor of the Bank of England) likened the transition away from LIBOR to the game of cricket...more
7/31/2020
/ Asset Management ,
Bank of England ,
Banking Sector ,
CEOs ,
Compliance ,
Dear CEO Letter ,
EU ,
EU Benchmark Regulation ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Interest Rates ,
Libor ,
Transitional Arrangements ,
UK
Six months have now passed since publication of the Dechert OnPoint, LIBOR – Where Are We Now?, and in that period progress on benchmark reform and the development of alternative risk-free-rates (RFRs) has gathered pace. At a...more
10/23/2018
/ Banking Sector ,
Benchmarks ,
Commodities ,
Derivatives ,
EU ,
EURIBOR ,
European Benchmark Regulation (BMR) ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
FSB ,
Inter-Bank Offered Rates (IBORs) ,
Interest Rates ,
ISDA ,
Japan ,
Libor ,
Loan Market Association ,
Prudential Regulation Authority (PRA) ,
Risk Free Rates (RFRs) ,
Secured Overnight Funding Rate (SOFR) ,
Switzerland ,
UK
Discussion of LIBOR was catapulted back into the spotlight last summer when Andrew Bailey, Chief Executive of the UK’s Financial Conduct Authority (FCA), gave a speech1 on the reference rate’s future. The key take-away was...more