Tag Archives: LSTA

ARRC Pumps Up the Summer Heat on LIBOR Transition

While the COVID-19 pandemic has taken center stage the past few months, the transition away from LIBOR has been continuing in the background, almost unnoticed at times.   Some market participants have questioned whether the disruption caused by COVID-19 will delay the LIBOR transition process.  The proposed timelines have stretched a bit, but regulatory authorities have been adamant that the December 31, 2021 deadline remains firm.

Earlier this month, the Alternative Reference Rates Committee of the New York Federal Reserve (ARRC) began a full court press to make the case for transitioning to SOFR and guide market participants to that goal.  Tom Wipf, the chair of the ARRC, spoke at webinars hosted by the Loan Syndications & Trading Association (LSTA) and the International Swaps and Derivatives Association (ISDA).  The ARRC also kicked off a SOFR Summer Series of webinars open to the public.  The speakers include many top officials and industry leaders, and their insight is invaluable.  There are also lively questions and answers from the moderator and the internet audience.

Continue reading ARRC Pumps Up the Summer Heat on LIBOR Transition

The Transition Away from LIBOR Gains Traction

By Joel N. Ephross

The transition from U.S. dollar (USD) LIBOR to a more robust reference rate is a necessity. The UK’s Financial Conduct Authority (FCA) is responsible for regulating LIBOR, and FCA Chief Executive Andrew Bailey has made clear that the publication of LIBOR is not guaranteed beyond 2021, so time is of the essence. Continue reading The Transition Away from LIBOR Gains Traction