Libor Replacements Multiply in Shift That Could Fracture Markets Nowhere is the race to succeed Libor more up in the air than in the multitrillion-dollar syndicated lending markets. Bloomberg | May 24, 2021
(Bloomberg) A slew of newer and lesser known reference rates are staking their claim to a share of the post-Libor landscape as the outlook for the space grows increasingly fractured.
Once largely considered afterthoughts in the race to replace the London interbank offered rate, a clutch of upstart challengers, from Ameribor and BSBY to ICE’s Bank Yield Index, have been gaining traction, or at least garnering more attention, in recent weeks. Their ascent comes as borrowers and bankers increasingly question whether the Federal Reserve’s long-preferred replacement, the Secured Overnight Financing Rate, is the best option for the multitude of markets that must ditch scandal-tainted Libor by year-end.
NPA: The Ellen Johnson Sirleaf Intervention
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The tax composition of the Invesco ETFs distributions will be determined on an annual basis and will be available only after the Invesco ETFs tax year-end.
2 Invesco ESG Canadian Core Plus Bond ETF (formerly Invesco Tactical Bond ETF) changed its investment objectives and strategies on October 30, 2020. Under its previous objectives and strategies, it did not apply any environmental, social or governance (ESG) criteria to its investments. The performance of this ETF for the period prior to this date would have been different had the current investment objectives and strategies been in place
To address the key issue in the litigation
In re: Citibank August 11, 2020 Wire Transfers
1, on March 19, 2021, the Loan Syndication and Trading Association (LSTA) circulated a Market Advisory
2 that contains draft erroneous payment language to be incorporated into credit agreements that purports to protect administrative agents and contractually entitles administrative agents to claw-back erroneous payments in the future.
Importantly, the LSTA language grants administrative agents sole discretion to determine whether a payment was made erroneously. In addition to that fundamental grant of discretion, the LSTA language also provides for recovery of erroneous payments by administrative agents, states that a notice of an erroneous payment from an administrative agent to a lender is conclusive absent manifest error, and creates a presumption that any payment that is received by a lender that differs from the scheduled amount or that does not match the amount set forth in a prepayme
Stakeholders bemoan lack of due process in suspension of NPA MD Stakeholders bemoan lack of due process in suspension of NPA MD
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Stakeholders in the nation’s maritime sector have bemoaned the lack of due process by the Federal Government over the suspension of the embattled Managing Director of the Nigerian Ports Authority (NPA), Ms Hadiza Bala Usman.
Speaking with maritime journalists, on Wednesday, in Lagos, the immediate past President of Women in International Shipping and Trading Association (WISTA), Mrs Mary Hamman, explained that due process ought to have been followed in the suspension of Hadiza Bala Usman as Managing Director of the Nigerian Ports Authority (NPA).
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