1-, 3- and 6-month synthetic USD LIBOR rates will continue to be published for 15 months after the USD LIBOR bank panel ceases on 30 June.
April 4, 2023Regulators 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 proposes that the 1-, 3- and 6-month USD LIBOR settings will be published under a synthetic methodology until end September 2024.
November 24, 2022Publication of USD LIBOR ICE Swap Rate "runs" for all tenors will cease immediately after the rates are published on 30 June 2023.
November 17, 2022The prototype rate can be used in testing to prepare for the introduction of robust fallback language in EURIBOR contracts.
October 28, 2022ICE Benchmark Administration has been appointed as the calculation agent for EFTERM, which will launch on 14 November 2022.
October 12, 2022The FCA is still considering when to cease the 3-month synthetic GBP LIBOR setting, and whether to compel IBA to produce synthetic USD LIBOR settings after mid 2023.
October 3, 2022Russia still has to identify its own corresponding banks to help facilitate trade with India, but this is expected to be announced in the next two weeks.
September 16, 2022Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.
August 23, 2022The launch of ICE Term SOFR provides certainty when borrowers and lenders calculate their interest expenses and other contractual payments in advance.
March 18, 2022