At least $700bn worth of junk rated US corporate loans are still priced using USD LIBOR, according to estimates.
June 5, 2023No new transactions should be undertaken using USD LIBOR or MIFOR, and appropriate fallbacks must be in place in legacy contracts.
May 15, 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, 2022By mid-2022, the total notional outstanding of THBFIX derivatives maturing after 2025 should be reduced by 50 percent compared to end-June 2021 figures.
November 18, 2021Input is sought on the special circumstances in loan and bond contracts that would make transition difficult and the specific details of such circumstances.
October 5, 2021The FCA proposes to permit legacy use of synthetic GBP and JPY LIBOR in all contracts except cleared derivatives for the duration of 2022.
September 30, 2021FIs are asked to instead use 'any widely accepted ARR'. Currently, there is no consensus on a new ARR for India. SOFR is widely expected to be accepted.
July 11, 2021The FSB warns against waiting for the development of forward-looking term RFRs. IOSCO urges market participants to stop issuing new LIBOR products.
June 3, 2021ARRC will not be able to recommend a forward-looking SOFR term rate by mid-2021. New York has approved legislation to facilitate transition for tough legacy contracts.
March 26, 2021Firms should not wait for a term RFR or credit-spread adjustments to reference in non-derivatives products, says RBA assistant governor Christopher Kent.
March 19, 2021