Browsing: Swaps

Commercial Lending

As financial institutions around the globe continue preparing to transition financial contracts away from the London Interbank Offered Rate, which is not guaranteed to be sustained after 2021, BAFT—ABA’s global transaction banking subsidiary—and the International Trade and Forfaiting Association noted that the transition could have implications for master participation agreements.

Compliance and Risk

Financial firms that have not started their work to transition from the London Interbank Offered Rate and making fallback plans for contracts—especially loans—that currently reference it need to begin right away, the Basel, Switzerland-based Financial Stability Board said in a progress report today on the reference rate transition.

Policy

The Securities Exchange Commission today finalized a package of proposed changes and guidance related to the regulation of cross-border security-based swaps, including single-name credit default swaps.

Policy

ABA today welcomed the Federal Reserve’s proposal for an 18-month extension of the compliance date for limits on the amount of credit exposure that foreign banking organizations can have to each other and to other counterparties.

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