The December 2020 figure is down only slightly from the $27.5tr of contracts referencing LIBOR 18 months earlier at the end of June 2019.
May 20, 2021Li Renn Tsai compares progress in Asia’s main trading hubs, warning of a logjam of transition-related operational work that will pile up towards year-end.
May 18, 2021Financial institutions will be expected to incentivise borrowers to decarbonise through loan terms and preferential interest rates.
April 29, 2021New disclosures from UBS and Nomura have raised estimates of the total losses to banks to over $10.5bn.
April 29, 2021Even after the pandemic subsides, low interest rates will continue to exert downward pressure on FIs' profits, the BOJ says.
April 22, 2021New interest rate swaps referencing JPY LIBOR and maturing after the end of 2021 should cease by end-September 2021.
April 20, 2021Nomura has set up the team to look into the bank’s risk management practices. It plans to disclose details of Archegos loss in late April.
April 14, 2021The first phase of testing will involve experiments on the basic functions of the CBDC as a payment instrument.
April 7, 2021QUICK Benchmarks, formed in January 2021, has been publishing TORF prototype rates weekly since May 2020 and daily since October 2020.
April 7, 2021Credit Suisse expects a $4.7bn loss from the collapse of Archegos. The bank has suspended share buybacks, cut its dividend, and announced the departure of seven key executives.
April 7, 2021