OCC: Pandemic, Low Rates Shape Risk Environment for Banks
The response to the coronavirus pandemic continues to shape the risk environment for banks, according to the OCC’s Semiannual Risk ...
Tag: Libor
Agencies Reiterate That Banks May Use ‘Appropriate’ Non-SOFR Libor Alternatives
The federal banking agencies today issued a statement reiterating that they are not endorsing a specific replacement rate for the ...
Agencies: No Plans to Recommend Credit-Sensitive Element to SOFR
The U.S. financial agencies do not plan to recommend a credit-sensitive element to the Secured Overnight Financing Rate or a ...
FSB Issues ‘Road Map’ for Financial Firms’ Libor Transitions
The Basel, Switzerland-based Financial Stability Board on Friday released a “global transition road map” to help financial firms navigate potential ...
ISDA Formally Launches Protocol for Rate Fallbacks on Derivatives
The International Swaps and Derivatives Association announced today that its framework for reference rate fallbacks will launch on Oct. 23.
New York Fed’s Held: ‘Libor Countdown Has Not Stopped’
Despite the pandemic, financial institutions should not expect a delay in the Dec. 31, 2021, date when publication of the ...
ARRC Updates Libor Fallback Language for Business Loans
The Alternative Reference Rates Committee today released updated recommended fallback language for newly originated bilateral business loans that reference the ...
ARRC Releases SOFR ‘Starter Kit’
As part of its ongoing work to facilitate the transition by financial market participants away from the London Interbank Offered ...
ABA Welcomes CFPB’s Reg Z Libor Transition Proposal, Recommends Tweaks
With the London Interbank Offered Rate relied on by many banks not guaranteed to be available after 2021, ABA and ...
FFIEC: Examiners to Increase Focus on Libor Transition Preparedness
Federal financial regulators today said they will ramp up their supervisory focus on banks’ transitions away from the London Interbank ...
