ARRC Posts Free Webinars on Proposed Libor Transition Language

The Alternative Reference Rates Committee — a group of private-sector market participants and public agencies convened by the Federal Reserve — today released two free webinars to help market participants better understand and respond to its request for feedback on draft fallback language for certain financial instruments that reference the U.S. dollar London Interbank Offer Rate.

With Libor’s future beyond 2021 uncertain, the ARRC is developing plans to facilitate the transition to its recommended alternative rate, the Secured Overnight Financing Rate. Last month it issued two “consultations,” one on bilateral business loans and the other on securitizations. The webinar on the bilateral business loans consultation features American Bankers Association VP Hu Benton, chairman of that ARRC working group.

Registration is required but both webinars are free. For more information, contact Benton.