Browsing: Libor

ABA Banking Journal

With Libor slated to sunset by the end of 2021, banks need to identify and mitigate their Libor transition risks. According to Fed leadership, “The firms we supervise should be aware of the intense supervisory focus we are placing on their transition and especially on their plans to end issuance of new contracts by year end.” Overall, the Libor transition is something bankers will want to have their arms firmly wrapped around sooner rather than later.

Commercial Lending

With the publication of all tenors of London Interbank Offered Rate set to cease after June 30, 2023, the Alternative Reference Rates Committee today outlined a model for using the Secured Overnight Financing Rate—the ARRC’s preferred Libor alternative—in asset-backed securities products, including non-collateralized loan obligation asset-backed securities, mortgage-backed securities and commercial mortgage-backed securities products.

Commercial Lending

As banks prepare for the eventual cessation of the London Interbank Offered Rate, the OCC today released a self-assessment tool for banks to evaluate their preparedness for transitioning away from Libor to an alternate reference rate, such as the Secured Overnight Financing Rate.

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