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LIBOR Transition: The ARRC Formally Recommends Term SOFR | Dentons
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Term SOFR is Open for Business | King & Spalding
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Keynote Address Of CFTC Commissioner Dawn D Stump: Back To The Future – The Year 1999
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Ready or not, borrowers are involuntarily seeing changes in the
interest rates they are being charged. Why, you ask? Because there
are serious, systemic risks associated with the most widely used
interest rate basis in the world - the London Interbank Offered
Rate (or LIBOR), including the LIBOR Rate for U.S. Dollar
denominated loans and other financial products (USD LIBOR). The
situation is so serious that regulatory authorities have said that given
consumer protection, litigation, and reputation risks, [they]
believe entering into new contracts that use USD LIBOR as a
Risk.net
Libor transition nears its end – Five topics you need to know
24 May 2021
Liang Wu, Numerix
There is less than a year left before the expected cessation of Libor, with the exception of the most liquid USD Libor tenors, which will be published until June 2023. The interbank offered rates (Ibors) of other major currencies, however, appear to be on schedule for their discontinuation at year-end.
Globally, much transition progress has already been made. Trading volumes in the major risk-free rates (RFRs) are gaining momentum, and the markets anticipate seeing an even greater liquidity shift from Libor to RFRs this year. One significant development is that the International Swaps and Derivatives Association (Isda) 2020 Ibor fallbacks supplement and protocol for new and legacy derivatives contracts is now effective, and regulators and industry committees have stepped up communications to market participants regarding the need to transition away from Libor as soon as p