The Tokyo Swap Rate Fallback is based on a static spread adjustment and the Tokyo Swap Rate (for swaps referencing TONA), which was launched in October.
December 13, 2021Synthetic JPY LIBOR may be used if the contracting parties agree to do so, as well as in "exceptional cases" where it is difficult to proceed with negotiations.
November 24, 2021Synthetic GBP and JPY LIBOR rates will be published until end-2022 and can be used in all legacy LIBOR contracts other than cleared derivatives.
November 17, 2021Input is sought on the special circumstances in loan and bond contracts that would make transition difficult and the specific details of such circumstances.
October 5, 2021The FCA proposes to permit legacy use of synthetic GBP and JPY LIBOR in all contracts except cleared derivatives for the duration of 2022.
September 30, 2021Market participants are asked not to wait for the European Commission to exercise its powers to designate a replacement for LIBOR.
July 6, 2021The FCA intends to compel publication of synthetic versions of GBP and JPY LIBOR, using forward-looking term version of RFRs.
June 25, 2021The consultation will help the FCA decide on what legacy use to permit for non-representative benchmarks and how it will prohibit new use of critical benchmarks that are ceasing.
May 22, 2021The FCA’s recent announcement has provided clarity on the future of all LIBOR settings. But, derivatives market participants still have work to do.
March 11, 2021The regulators say the transition must continue without reliance on a potential synthetic JPY LIBOR, which would be restricted to tough legacy contracts even if published.
March 10, 2021