{"id":349,"date":"2021-06-08T00:07:22","date_gmt":"2021-06-08T04:07:22","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/bankinglaw\/?p=349"},"modified":"2021-06-14T19:00:19","modified_gmt":"2021-06-14T23:00:19","slug":"libor-transition-bsby-out-of-the-gates-first","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/bankinglaw\/2021\/06\/08\/libor-transition-bsby-out-of-the-gates-first\/","title":{"rendered":"LIBOR Transition: BSBY Out of the Gates First"},"content":{"rendered":"

With all the regulator and market focus on SOFR as the LIBOR replacement of choice, it\u2019s easy to forget that there are other replacement rates vying for market attention. We\u2019ve written about Ameribor<\/a>\u00a0and highlighted some of the\u00a0recent developments<\/a>\u00a0in its adoption. For the most part, support for Ameribor has come from smaller Main Street banks looking for a credit-sensitive rate that more closely matches the unsecured basis on which they borrow funds.<\/p>\n

On October 15, 2020, Bloomberg threw its hat into the ring with its\u00a0Bloomberg Short Term Bank Yield Index<\/a>\u00a0(BSBY). After a couple of months of publishing the rate on an indicative basis, Bloomberg\u00a0launched the rate<\/a>\u00a0on January 20, 2021, and announced in\u00a0early March<\/a> that the rate is available for use as a replacement benchmark rate. Read on our recently published Alert<\/a> to learn more about BSBY and recent developments relating to the rate.<\/p>\n

Duane Morris\u2019 LIBOR Transition Team:\u00a0\u00a0Roger S. Chari<\/a>, Chair,\u00a0Joel N. Ephross<\/a>,\u00a0Amelia (Amy) H. Huskins<\/a>, and Phuong (Michelle) Ngo<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

With all the regulator and market focus on SOFR as the LIBOR replacement of choice, it\u2019s easy to forget that there are other replacement rates vying for market attention. We\u2019ve written about Ameribor\u00a0and highlighted some of the\u00a0recent developments\u00a0in its adoption. For the most part, support for Ameribor has come from smaller Main Street banks looking … <\/p>\n

Continue reading “LIBOR Transition: BSBY Out of the Gates First”<\/span><\/a><\/p>\n","protected":false},"author":481,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[234,253,240,238,384,383,380,381,386,248,382,247,250,242,252,227,385,228,243,236,245,241,256,257,206,376,271,258],"ppma_author":[348,346,353,360],"class_list":["post-349","post","type-post","status-publish","format-standard","hentry","category-general","tag-alternative-reference-rates-committee","tag-amelia-huskins","tag-amy-huskins","tag-arrc","tag-bank-of-america","tag-bloomberg","tag-bloomberg-short-term-bank-yield-index","tag-bsby","tag-bsby-basis-swap","tag-chari","tag-cme-group","tag-duane-morris","tag-ephross","tag-han-wang","tag-huskins","tag-joel-ephross","tag-jpmorgan-chase","tag-libor","tag-libor-replacement","tag-libor-transition","tag-london-interbank-offered-rate","tag-michelle-ngo","tag-ngo","tag-phuong-ngo","tag-roger-chari","tag-syndicated-loan","tag-usd-libor","tag-wang"],"authors":[{"term_id":348,"user_id":481,"is_guest":0,"slug":"mngo","display_name":"Phuong (Michelle) Ngo","avatar_url":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-content\/uploads\/sites\/14\/2020\/08\/ngomichelle-125x150.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""},{"term_id":346,"user_id":414,"is_guest":0,"slug":"rschari","display_name":"Roger S. Chari","avatar_url":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-content\/uploads\/sites\/14\/2020\/02\/chariroger-125x150.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""},{"term_id":353,"user_id":479,"is_guest":0,"slug":"ahh175","display_name":"Amelia (Amy) H. Huskins","avatar_url":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-content\/uploads\/sites\/14\/2020\/08\/huskinsamy-125x150.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""},{"term_id":360,"user_id":478,"is_guest":0,"slug":"jne120","display_name":"Joel N. Ephross, P.C.","avatar_url":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-content\/uploads\/sites\/14\/2020\/07\/ephrossjoel-125x150.jpg","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts\/349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/users\/481"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/comments?post=349"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/posts\/349\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/media?parent=349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/categories?post=349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/tags?post=349"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/bankinglaw\/wp-json\/wp\/v2\/ppma_author?post=349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}