The final switch to ARRs for the remaining USD LIBOR-linked contracts will entail "an extra level of complexity", says Scott O'Malia.
March 28, 2023JBATA has finalised the fallback provisions for cash products referencing JPY TIBOR or Euroyen TIBOR. The changes will take effect on 1 April.
March 22, 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, 2023Steering Committee proposes to have a period of active transition until 30 April 2024, before banks initiate an industry-wide automatic conversion process around June 2024.
March 16, 2023Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.
March 13, 2023ASIC proposes to replace products referencing USD LIBOR with OIS contracts referencing SOFR, and to remove AUD forward rate agreements.
February 16, 2023The publication of Compounded IndONIA and IndONIA Index is aimed at encouraging greater use of IndONIA in financial products.
February 7, 2023TFX will launch 3-month TONA futures and related options contracts. The 6-month Euroyen LIBOR futures and O/N Call Rate futures contracts will be delisted.
February 1, 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 Modified MIFOR curve will replace the FBIL MIFOR curve for new contracts, using Adjusted SOFR instead of USD LIBOR.
December 6, 2022