The LIBOR Legacy Playbook will help market participants transition legacy LIBOR cash products. Refinitiv will publish fallback rates based on the CME Term SOFR rates in September.
July 12, 2022ARRC approved the CME 12-month Term SOFR rate for legacy LIBOR consumer products and trade and receivables finance.
May 24, 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 bill is based on legislation that passed the House in December, and is similar to a law enacted by New York state and others in the past year.
March 11, 2022The user guide outlines best practices for transitioning new exchange-traded derivatives activity to SOFR activity in the near term.
December 21, 2021Under part two of the second phase of SOFR First, interdealer brokers are asked to use SOFR instead of LIBOR in the USD leg of all newly-executed cross-currency derivatives.
December 6, 2021Fallbacks for institutional cash products are now production benchmarks. Prototype fallbacks for consumer cash products will be launched on 3 January 2022.
December 2, 2021BBSW/LIBOR will shift to BBSW/SOFR in cross currency basis swaps trading, though the move presents challenges inherent to an IBOR/RFR pairing.
November 30, 2021The FSB says transition should be "primarily to overnight RFRs" and that it is closely watching market developments regarding credit-sensitive rates.
November 23, 2021