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.
The Alternative Reference Rates Committee today issued recommendations for intercompany loans based on the Secured Overnight Financing Rate, the ARRC’s preferred replacement for the London Interbank Offered Rate.
A portfolio of benchmarks is emerging to meet bankers’ diverse rate needs as Libor recedes in history’s rearview mirror.
n a Bloomberg op-ed today, Tom Wipf, chairman of the Alternative Reference Rates Committee, emphasized the need for public and private sector participants to work together in preparation for the cessation of the London Interbank Offered Rate.
The administrator of the London Interbank Offered Rate has made what was expected official: the widely used benchmark will cease publication, with certain Libor tenors ceasing as soon as the end of 2021.
Intercontinental Exchange, which administers the London Interbank Offered Rate, today proposed a plan to cease publishing U.S. dollar Libor after the end of 2021.
With the COVID-19 pandemic highlighting the “fundamental weakness” in the London Interbank Offered Rate, financial…
The response to the coronavirus pandemic continues to shape the risk environment for banks, according to the OCC’s Semiannual Risk Perspective released today.
The federal banking agencies today issued a statement reiterating that they are not endorsing a specific replacement rate for the London Interbank Offered Rate.
The U.S. financial agencies do not plan to recommend a credit-sensitive element to the Secured Overnight Financing Rate or a credit-sensitive rate, agency heads said in a letter to a group of regional banks yesterday.