At least $700bn worth of junk rated US corporate loans are still priced using USD LIBOR, according to estimates.
June 5, 2023A "pile-up" towards end-June 2023 that could introduce operational risks and wider market disruption, the FSB said.
April 28, 2023The statement emphasises the importance of active transition and reminds participants that synthetic LIBOR can only be used as a temporary bridging tool.
April 13, 20231-, 3- and 6-month synthetic USD LIBOR rates will continue to be published for 15 months after the USD LIBOR bank panel ceases on 30 June.
April 4, 2023The FCA proposes that the 1-, 3- and 6-month USD LIBOR settings will be published under a synthetic methodology until end September 2024.
November 24, 2022Issuers of remaining GBP, JPY and USD LIBOR-linked bonds should initiate consent solicitation processes, and not rely on synthetic rates.
August 18, 2022The 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, 2021