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New York Governor Signs The First LIBOR Transition Legislation Into Law - Finance and Banking

New York Governor Signs The First LIBOR Transition Legislation Into Law - Finance and Banking
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Bloomberg Confirms its BSBY Short-Term Credit Sensitive Index Adheres to IOSCO Principles

Share this article Share this article NEW YORK, April 6, 2021 /PRNewswire/ Bloomberg today announced that an independent assurance review of the Bloomberg Short-Term Bank Yield Index (BSBY) confirmed that the short-term credit sensitive index adheres to the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks. The review was conducted by a global, independent accounting firm and the final report is expected to be available shortly. Alignment with the IOSCO Principles is an important milestone, and recognizes BSBY adheres to industry best practices, said Steve Berkley, CEO of Bloomberg Index Services Limited (BISL) at Bloomberg. An increasing number of financial institutions and corporations are looking to BSBY for their loan products as they transition away from LIBOR, and we will continue to support their needs as they work to ensure compliance with regulatory timelines.

Bloomberg Short-Term Credit Sensitive Index Available for U S Loan Market

Bloomberg Short-Term Credit Sensitive Index Available for U.S. Loan Market Bloomberg‘s BSBY Short-Term Credit Sensitive Index Now Available for U.S. Loan Market New York, NY  Bloomberg today announced that the Bloomberg Short-Term Bank Yield Index (BSBY) is now available for use as a reference in financial benchmarks in the U.S. loan market.  BSBY includes both a term structure and systemic credit-sensitive spread, which may be used to support the market‘s transition from LIBOR to risk-free rates, such as SOFR. Bloomberg began publishing BSBY on an indicative basis for the purposes of illustration, analysis and collection of market feedback on October 15, 2020.

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