Declining liquidity in the SOR-SORA basis swap market is causing difficulties in pricing adjustment spreads used to covert legacy SOR contracts to SORA-based contracts.
May 19, 2022From 27 June, all OTC Open Contracts cleared by ASX, including legacy trades, will be treated as if they incorporated fallback provisions contained in the 2021 ISDA Definitions.
March 24, 2022The bill is based on legislation that passed the House in December, and is similar to a law enacted by New York state and others in the past year.
March 11, 2022The guide recommends five steps for market participants with LIBOR exposures, to help them respond to and prepare for the transition.
December 28, 2021The new fallbacks cover IBORs in India (MIFOR), Malaysia (KLIBOR), New Zealand (BKBM), Norway (NIBOR), the Philippines (PHIREF) and Sweden (STIBOR).
December 17, 2021The Tokyo Swap Rate Fallback is based on a static spread adjustment and the Tokyo Swap Rate (for swaps referencing TONA), which was launched in October.
December 13, 2021ISDA was recognised for its work on LIBOR transition, initial margin compliance, Basel III benchmarking, digitisation initiatives, a new digital documentation platform, and ESG standards.
December 10, 2021The ISDA IBOR Fallbacks Protocol enables market participants to incorporate robust fallbacks into legacy trades referencing LIBOR, significantly mitigating systemic risk.
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, 2021A draw on an existing agreement that is legally enforceable, such as a committed credit facility, would not be viewed as a new contract.
October 22, 2021