Replacement Date News Today

On March 25, 2021, we published a brief article on the transition from the London Inter-Bank Offered Rate (LIBOR) to the Secured Overnight Financing Rate (SOFR). This article contained a background on the LIBOR to SOFR transition, and a summary of the transition language recommended by the Alternative Reference Rates Committee (ARRC). It also summarized and discussed the implications of the announcements that were made on March 5, 2021 (the March 5th Announcements) by the ICE Benchmark Adminis...

To print this article, all you need is to be registered or login on Mondaq.com. On March 5, 2021, the ICE Benchmark Administration (IBA), UK Financial Conduct Authority (FCA) and International Swaps and Derivatives Association (ISDA) made important announcements regarding the timelines of the cessations of the London Interbank Offered Rate (LIBOR). LIBOR cessation dates The IBA, which administers LIBOR, confirmed in its feedback statement on its consultation regarding th...