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The CFTC's Market Participants Division updated its 2015 FAQs regarding CFTC Rule 4.27 and Form CPO-PQR to reflect the October 2020 adoption of amendments to both the rule and the form.
FinanceAustralia s Westpac breaks bond hiatus with first SOFR deal
Paulina Duran
4 minute read
A pedestrian looks at his phone as he walks past a logo for Australia s Westpac Banking Corp located outside a branch in central Sydney, Australia, November 5, 2018. REUTERS/David Gray
Westpac Banking Group (WBC.AX) on Tuesday will reopen Australia s big banks bond-market taps for the first time in more than a year, in a deal marking the first use of a non-USD Libor benchmark rate to price the debt.
The country s second-largest lender is offering senior bonds for the first time since January 2020, with part of the issue due to be priced at a spread over the Secured Overnight Financing Rate (SOFR), which is replacing Libor, according to a memo seen by Reuters.
Libor Replacements Multiply in Shift That Could Fracture Markets Nowhere is the race to succeed Libor more up in the air than in the multitrillion-dollar syndicated lending markets. Bloomberg | May 24, 2021
(Bloomberg) A slew of newer and lesser known reference rates are staking their claim to a share of the post-Libor landscape as the outlook for the space grows increasingly fractured.
Once largely considered afterthoughts in the race to replace the London interbank offered rate, a clutch of upstart challengers, from Ameribor and BSBY to ICE’s Bank Yield Index, have been gaining traction, or at least garnering more attention, in recent weeks. Their ascent comes as borrowers and bankers increasingly question whether the Federal Reserve’s long-preferred replacement, the Secured Overnight Financing Rate, is the best option for the multitude of markets that must ditch scandal-tainted Libor by year-end.