The consultation seeks views on whether a legal safe harbour could be a helpful supplement to the provisions inserted into the BMR by the Financial Services Bill.
February 18, 2021Banks of all sizes felt most of their budget would be spent on technology, followed by legal contract repapering. A shortage of legal resources remains a clear risk.
February 10, 2021Tom Hayes told Bloomberg this week that efforts to replace LIBOR were pointless and that the rate was far safer now.
February 5, 2021SOR will now end 18 months later to reflect the IBA's plans, but the transition to SORA in cash products and derivatives markets will continue at pace.
February 3, 2021Japan’s decision to keep TIBOR may slow the adoption of TONA, lengthening the time needed to generate liquidity in TONA derivatives and establish forward-looking TONA rates.
January 26, 2021More than 12,000 entities across nearly 80 jurisdictions have so far adhered to the protocol, which will remain open for adherence.
January 26, 2021The state budget plan would reportedly allow legacy LIBOR contracts to use the replacement rate recommended by the Fed Board, the New York Fed, or the ARRC.
January 25, 2021The work programme includes initiatives to strengthen NBFI resilience, enhance cross border payments, and address climate change, among other priorities.
January 21, 2021LCH and CME Group could carry out a switchover in late November or early December for LIBOR derivatives to protect from tight liquidity in the benchmark’s final days.
January 20, 2021Over 5,900 entities in 70 jurisdictions have adhered to the protocol, which is intended as a safety net to mitigate the systemic impact of an IBOR cessation.
January 18, 2021