Only a small number of JPY LIBOR contracts remain that still need to complete the transition, but USD LIBOR rates are "still widely used" by Japanese FIs and corporates.
June 9, 2022Synthetic 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, 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, 2021OIS transactions based on TONA and TIBOR increased in July, suggesting alternative rates to JPY LIBOR are gaining traction.
August 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 December 2020 figure is down only slightly from the $27.5tr of contracts referencing LIBOR 18 months earlier at the end of June 2019.
May 20, 2021TORF production rates can be used in actual transactions, and are published each business day on the same day at 5pm.
April 28, 2021New interest rate swaps referencing JPY LIBOR and maturing after the end of 2021 should cease by end-September 2021.
April 20, 2021QUICK Benchmarks, formed in January 2021, has been publishing TORF prototype rates weekly since May 2020 and daily since October 2020.
April 7, 2021