At least $700bn worth of junk rated US corporate loans are still priced using USD LIBOR, according to estimates.
June 5, 2023Market participants can use Term SOFR in basis swap transactions even if they are not a direct party to a Term SOFR cash exposure.
April 26, 2023Widespread usage of the tool will be "an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.
March 16, 2023USD IBOR Cash Fallbacks will be used to transition loans, bonds and securitised products that reference LIBOR and will mature after 30 June 2023.
September 22, 2022The rules would implement a law enacted earlier this year that provides a uniform solution for replacing LIBOR references in contracts without adequate fallback provisions.
July 25, 2022The LIBOR Legacy Playbook will help market participants transition legacy LIBOR cash products. Refinitiv will publish fallback rates based on the CME Term SOFR rates in September.
July 12, 2022ARRC approved the CME 12-month Term SOFR rate for legacy LIBOR consumer products and trade and receivables finance.
May 24, 2022The user guide outlines best practices for transitioning new exchange-traded derivatives activity to SOFR activity in the near term.
December 21, 2021The legislation will automatically shift tough legacy contracts to a new benchmark, preventing disputes over which rate should apply and how interest is calculated.
December 10, 2021Fallbacks for institutional cash products are now production benchmarks. Prototype fallbacks for consumer cash products will be launched on 3 January 2022.
December 2, 2021