Cuomo Signs ARRC-Backed Libor Transition Legislation
New York Gov. Andrew Cuomo yesterday signed a bill developed by the Alternative Reference Rates Committee that will facilitate the...
Commercial Lending
Libor Change: ‘Law of Physics’ Prompting Examination Focus, Self-Assessment Tool
With Libor slated to sunset by the end of 2021, banks need to identify and mitigate their Libor transition risks....
Ironing Out the Wrinkles in the Post-Libor Landscape
U.S. dollar Libor will officially come to an end starting this year. With just months to go in the transition...
Podcast: Crafting a New Bank Amid COVID-19
When the coronavirus pandemic began, Craft Bank was just about to begin its capital raise as a de novo community...
Fed Survey Highlights Pandemic Challenges for Older Entrepreneurs
Small businesses owned by older entrepreneurs—those over the age of 45—have been particularly affected by the COVID-19 pandemic, compared to...
ARRC Outlines Approach for Using SOFR in New Issuances of Securitized Products
With the publication of all tenors of London Interbank Offered Rate set to cease after June 30, 2023, the Alternative...
Senate Passes PPP Extension; Bill Goes to President
The Senate today voted 92 to 7 to pass a bill extending the Paycheck Protection Program.
ARRC Supplements Its Recommended Libor Fallback Language for Business Loans
As part of its ongoing effort to support the transition away from the London Interbank Offered Rate, the Alternative Reference...
ARRC: No Guarantee on Forward-Looking SOFR Term Rate in 2021
The Alternative Reference Rates Committee today said it “will not be in a position” to recommend a forward-looking term rate...
ARRC: USD Libor Exposure Grows as Cessation Deadline Nears
The volume of financial instruments that reference USD Libor has grown to $223 trillion, up from $199 trillion in 2016,...
