Alternative Reference Rate News Today

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Are you preparing for UPSC CSE Prelims 2024? Check your progress and revise your topics through following quiz on Economy.

<p><span>The Global Association of Central Counterparties (“CCP12”) appreciates the opportunity to contribute to the request for information and comments by the Commodity Futures Trading Commission (“Commission” or “CFTC”) - </span><b>Swap Clearing Requirement To Account for the Transition From LIBOR and Other IBORs to Alternative Reference Rates </b><span>(RIN 3038–AF18)&l...

On December 22, 2021, in response to a request from the Alternative Reference Rate Committee (ARRC) and a further request from the Futures Industry Association (FIA)

Reserve Bank of India (RBI) on Wednesday said banks will be allowed to infuse capital in their overseas branches as well as repatriate profits without seeking its prior approval, subject to fulfilling of certain regulatory capital requirements. At present, banks incorporated in India can infuse capital in their overseas branches and subsidiaries, retain profits in these

This development comes after the Reserve Bank of India issued an advisory in June 2021, encouraging banks to cease entering new contracts using London interbank offered rate (LIBOR) as a reference rate

The central bank decided to amend the guidelines related to export credit in foreign currency and restructuring of derivative contracts.

To print this article, all you need is to be registered or login on Mondaq.com. Ready or not, borrowers are involuntarily seeing changes in the interest rates they are being charged. Why, you ask? Because there are serious, systemic risks associated with the most widely used interest rate basis in the world - the London Interbank Offered Rate (or LIBOR), including the LIBOR Rate for U.S. Dollar denominated loans and other financial products (USD LIBOR). The situation is ...

NCUA urges CUs to begin LIBOR transition The NCUA yesterday issued a Letter to Credit Unions instructing credit unions to begin to transition away from using the London Inter-bank Offered Rate (LIBOR) and complete the process no later than Dec. 31, 2021. In addition to the Letter to Credit Unions, the NCUA included a supervisory letter that provides the framework examiners will use to evaluate a credit union’s risk management processes and planning regarding the transition from LIBOR. The gui...

Week Ahead – Dollar declines after massive payrolls miss; Focus shifts to inflation May 7, 2021SharePrint Wall Street went on a wild ride after a huge nonfarm payroll report miss reaffirms the Fed’s stance to do nothing.  A massive slowdown in hiring was not expected and the knee-jerk reaction across the bond market might have paved the way for further dollar weakness.  The US economic recovery will likely take a lot longer than many have initially expected as concerns grow that the issue...