Banks wrap up Libor loose ends
After years of preparation, banks saw a smooth transition to SOFR and other alternative rates.
Tag: Libor
CFPB issues interim final rule for Libor transition
CFPB: The updated rule will “facilitate the orderly transition of those consumer loans that currently use the Libor index to ...
ARRC approves best practices document for Term SOFR use
The Alternative Reference Rates Committee has approved a document containing best practice recommendations for using the CME Group’s Term SOFR ...
ARRC issues statement on recommended fallbacks for hardwired fallback language
The Alternative Reference Rates Committee today released a paper formally stating its selections and recommendations as the “relevant governmental body” ...
Libor transition communications solution launched
The Depository Trust and Clearing Corporation this week announced the launch of the Libor Benchmark Replacement Index solution to support ...
FHA issues final rule for transitioning ARMs off Libor
The Federal Housing Administration this week published a final rule removing Libor as an approved index for adjustable-rate mortgages and ...
Fannie, Freddie announce Libor transition plans
Fannie Mae and Freddie Mac today announced plans to transition legacy Libor loans and securities to the Secured Overnight Financing ...
Fed adopts final rule implementing Libor Act
The Federal Reserve today adopted a final rule that implements the Adjustable Interest Rate Act by identifying benchmark rates based ...
ARRC survey: Good progress on Libor business loan transition, continued action needed
Most respondents indicated they have documented remediation plans in place and highlighted plans to actively transition their Libor loans.
Fed seeks comment on proposal for default rules for contracts using Libor
The proposal would replace Libor references in certain contracts with the applicable Fed-selected replacement rate after June 30, 2023.
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