IOSCO's statement comes after the final five settings of USD LIBOR were published for the last time on Friday, marking the end of a more than 50 year old benchmark.
July 4, 2023Market participants can use Term SOFR in basis swap transactions even if they are not a direct party to a Term SOFR cash exposure.
April 26, 2023Regulators continue to express concerns that the use of Term SOFR and credit sensitive rates could draw away liquidity from the overnight SOFR derivatives markets.
December 20, 2022USD IBOR Cash Fallbacks will be used to transition loans, bonds and securitised products that reference LIBOR and will mature after 30 June 2023.
September 22, 2022The new indices - known as AXI and FXI - will serve as forward-looking credit spread add-ons for SOFR for use in lending and derivatives markets.
July 27, 2022The 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 launch of ICE Term SOFR provides certainty when borrowers and lenders calculate their interest expenses and other contractual payments in advance.
March 18, 2022The HKMA said it supports the publication of the new information note, which sets out options to replace USD LIBOR with SOFR in loan contracts.
September 15, 2021