Japan will change interdealer trading conventions for cross-currency basis swaps from LIBOR to RFRs on 21 September.
August 16, 2021There are two versions of the Refinitiv USD IBOR Cash Fallbacks: one for consumer cash products, the other for institutional cash products.
August 13, 2021LCH is switching its discount curves and PAI rate on SGD-denominated cleared swaps from SOR to SORA on 9 August.
August 8, 2021Banks are permitted to extend export credit using alternative rates. A change in the benchmark used in a derivatives contract need not be treated as a restructuring.
August 8, 2021Forward-looking term rates are needed for syndicated and bilateral corporate loans, as well as in the CLO and leveraged loans markets.
July 31, 2021Market observers reported a sharp increase in SOFR swaps transacted, a trend said to be "clear and pronounced".
July 29, 2021From 21 September, interdealer trading in cross-currency basis swaps between USD, JPY, GBP and CHF would reference each currency's RFR.
July 23, 2021SOFR First has four phases, starting with the adoption of SOFR instead of LIBOR as the default rate for USD linear swaps from 26 July 2021.
July 18, 2021SOFR is expected to be the most widely accepted benchmark rate used to replace LIBOR and MIFOR in India.
July 17, 2021FIs are asked to instead use 'any widely accepted ARR'. Currently, there is no consensus on a new ARR for India. SOFR is widely expected to be accepted.
July 11, 2021