As we bid farewell to LIBOR, let us also bid farewell to the limitations of the past. Embrace this moment as a chance to reshape financial benchmarks for generations to come. The world awaits your brilliance.
USD LIBOR expected to end June, 2023 with numerous legal financial implications to consider, especially as remediation of leveraged loans and other commercial loans needs to progress further according to the Alternative Reference Rates Committee ARRC meeting in February 2023
The CFTC issued an extension of no-action relief with respect to the treatment of separate accounts by futures commission merchants FCMs, CFTC issued revised no-action letters regarding the financial industry's transition away from LIBOR and reporting requirements.
The CFPB has amended Regulation Z to address the anticipated sunset of LIBOR, which is expected to be discontinued in June 2023. Some creditors currently use LIBOR as an index for calculating rates for open-end and closed-end products.
SEC staff statement: in light of the now-certain transition away from LIBOR; reminding investment professionals of their obligations when recommending LIBOR-linked securities and related investment products and strategies, including interest rate swaps, municipal securities and securitizations.