Industry bodies say only benchmarks designated as systemically important should be in scope of BMR for mandatory compliance.
April 6, 2023ISDA and AFMA responded to an ASIC proposal to remove OIS contracts referencing USD LIBOR from derivatives clearing requirements and replace them with those referencing SOFR.
April 5, 20231-, 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, 2023The 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, 2023