Regulators continue to express concerns that the use of Term SOFR and credit sensitive rates could draw away liquidity from the overnight SOFR derivatives markets.
December 20, 2022The FCA said the current fallback language for credit sensitive rates puts market participants at risk of breaching their obligations under BMR.
September 30, 2021IOSCO says SOFR should be used in place of USD LIBOR and that it will be closely monitoring how the “IOSCO badge” is used in compliance assessments of credit sensitive rates.
September 9, 2021Bank of America and JPMorgan Chase entered into a $250mn one-year basis swap with one side tied to BSBY, the other to SOFR.
May 7, 2021The advisory provides sample language to facilitate the use of credit sensitive rates in hardwired fallback language in new and amended loan documentation.
April 16, 2021Financial institutions should be treating the LIBOR transition as an opportunity to strengthen client relationships and win market share, says Matthieu Sachot at Chappuis Halder & Co.
August 8, 2019