Page 4 - Alternative Reference Rates News Today

Here is some background about the end of Libor and what comes next so you can be prepared to advise your clients on the issues.

Yes Bank executes its first trade borrowing transaction linked to SOFR April 09, 2021 × SOFR is an identified replacement for USD LIBOR (London Inter-Bank Offered Rate), which is likely to be phased out at the end of 2021. Private sector lender Yes Bank has executed its first Secured Overnight Financing Rate (SOFR) linked transaction. SOFR is an identified replacement for USD LIBOR (London Inter-Bank Offered Rate), which is likely to be phased out at the end of 2021. “The transaction was a...

With only ten months left until the phase-out of the London Interbank Offered Rate (" LIBOR"), transition efforts should be well underway. In this bulletin, we discuss the ICE Benchmark Administration (the " IBA") and/or the Financial Conduct Authoritys (the " FCA") expected announcement about the official cessation of LIBOR, and highlight the modified timelines for transitioning from LIBOR to an alternate risk-free rate (" RFR") recommended by the relevant working groups. 1.  Expected Announc...

Indias NBFCs need to plan for an effective IBOR (Interbank Offered Rate ) transition, as majority of LIBOR (London Interbank Offered Rate) rates are likely to be phased out by the end of 2021, EY India report said.

New Delhi, Feb 22 : India's NBFCs need to plan for an effective IBOR (Interbank Offered Rate ) transition, as majority of LIBOR (London Interbank Offered

ICICI bank makes its first interbank-money market transaction linked with SOFR Mumbai | Updated on January 21, 2021 ICICI Bank on Thursday said it has executed its first interbank-money market transaction linked with Secured Overnight Funding Rate (SOFR) through its Hong Kong branch. This transaction is part of the bank’s Benchmark Transition Management plan to assess the preparedness towards a smooth transition to the new Alternative Reference Rates (ARRs), the Bank said in a statement. SO...

For the better part of three years, U.S. officials have been preaching patience. Bloomberg | Jan 11, 2021 (Bloomberg) -- It’s one of the most confounding questions facing regulators in the fight to phase out the London interbank offered rate. How do you wean everyone from asset managers and traders to corporate treasurers off derivatives that are so ubiquitous, they’ve become part of the fabric of the financial system? For the better part of three years, U.S. officials have been prea...