The FCA and BOE encourage liquidity providers to change USD linear swap trading conventions from USD LIBOR to SOFR on 26 July 2021.
June 18, 2021The ARRC said the change, proposed for 26 July, will allow it to formally recommend forward-looking SOFR term rates published by CME Group.
June 9, 2021Guidance was issued on the terms that should be included in new and old contracts referencing USD LIBOR as well as in new contracts referencing SOFR.
June 3, 2021The bond issuance included a $300mn floating-rate bond tranche maturing in five years that was priced at a 52 basis point spread over SOFR.
May 28, 2021A recommended SOFR term rate is now in clear sight, said Tom Wipf, ARRC Chairman and Vice Chairman of Institutional Securities at Morgan Stanley.
May 25, 2021OTC Clear announced last week that it was launching clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.
May 18, 2021Non-financial borrowers may not want their cost of borrowing to be driven by thin liquidity in CP and CD markets, says BOE governor Andrew Bailey.
May 17, 2021The SFC has approved the launch of clearing services for cross-currency interest rates swaps and basis swaps referencing HONIA and SOFR.
May 11, 2021The ARRC has published guidance on the indicators it will use to measure the progress needed to recommend a SOFR-based term rate.
May 10, 2021Bank of America and JPMorgan Chase entered into a $250mn one-year basis swap with one side tied to BSBY, the other to SOFR.
May 7, 2021