ARRC Issues Recommendations on Risk-Free Rates in Cross-Currency Swaps
The Alternative Reference Rates Committee today released a document offering preliminary considerations for the use of risk-free rates in interdealer cross-currency swaps.
Browsing: Libor
Rep. McHenry Presses Fed for More Guidance on Libor Transition
House Financial Services Committee Ranking Member Patrick McHenry (R-N.C.) wrote to Federal Reserve Vice Chairman for Supervision Randal Quarles this week calling on the Fed to increase its efforts to help banks transition away from the London Interbank Offered Rate to SOFR, the preferred benchmark rate of the Alternative Reference Rates Committee.
FASB to Provide Relief on Libor Transition
As banks prepare to make the transition away from the London Interbank Offer Rate as a benchmark interest rate, the Financial Accounting Standards Board today approved staff proposals to provide relief from onerous accounting processes that would normally be required when contracts are modified.
Quarles to Banks: Begin Transition from Libor Now
In the clearest terms expressed by any regulator to date, Federal Reserve Vice Chairman for Supervision Randal Quarles emphasized that banks need to begin transitioning away from the London Interbank Offered Rate as a benchmark.
Libor Transition Panel Issues Fallback Language for Bilateral Business Loans, Securitizations
The Alternative Reference Rates Committee today issued its fallback language recommendations for bilateral business loans and securitizations that reference the U.S. dollar London Interbank Offer Rate.
Planning for a Post-Libor Future
The transition to alternative reference rates is in full swing. Here are four key steps to plan for life after Libor.
Libor Transition Panel Recommends Fallback Language for Key Instruments
The Alternative Reference Rates Committee today issued its fallback language recommendations for floating rate notes and syndicated business loans that reference the U.S. dollar London Interbank Offer Rate.
Rate Transition Panel Releases User’s Guide to SOFR
The Alternative Reference Rates Committee today issued “A User’s Guide to SOFR,” a handbook to help market participants understand the Secured Overnight Financing Rate, its preferred alternative to the London Interbank Offered Rate, and how it can be used in cash products.
A Risk Manager’s Guide to the Reference Rate Transition
With Libor’s future uncertain, here are some steps for assessing risk, amending contracts and selecting new rates.
Quarles: SOFR Meets Regulatory Due Diligence Requirements
Regulatory agencies will expect banks to conduct thorough due diligence on the reference rates they use, but the Secured Overnight Financing Rate recommended as a replacement for the London Interbank Offered Rate has already undergone that due diligence, Federal Reserve Vice Chairman for Supervision Randal Quarles said at a public event today on the transition from Libor.