ASIC proposes to replace products referencing USD LIBOR with OIS contracts referencing SOFR, and to remove AUD forward rate agreements.
February 16, 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, 2022Issuers of remaining GBP, JPY and USD LIBOR-linked bonds should initiate consent solicitation processes, and not rely on synthetic rates.
August 18, 2022Mandatory clearing requirements will instead apply to interest rate swaps referencing SARON, TONA, €STR, SOFR and SORA.
August 16, 2022Australia may see a shift away from BBSW to AONIA for products like cross-currency swaps and multi-currency lending facilities, says CBA's Pieter Bierkens.
August 2, 2022In a survey of APLMA member institutions, more than half of respondents said they would not complete remediation of their legacy book until H1 2023.
April 21, 2022The FSB highlights a need to continue building liquidity in RFR-based products, use SOFR across global markets, and plan for the remaining USD LIBOR settings to cease.
April 6, 2022The work plan focuses on measures to maintain financial stability, reduce debt risks, promote financial innovation, and enhance the FSC's rules on network security.
December 29, 2021The new fallbacks cover IBORs in India (MIFOR), Malaysia (KLIBOR), New Zealand (BKBM), Norway (NIBOR), the Philippines (PHIREF) and Sweden (STIBOR).
December 17, 2021The ISDA IBOR Fallbacks Protocol enables market participants to incorporate robust fallbacks into legacy trades referencing LIBOR, significantly mitigating systemic risk.
December 10, 2021