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On November 30, 2020, parties to legacy LIBOR contracts breathed a collective sigh of relief as LIBOR’s administrator Intercontinental Exchange, Inc. (“ICE”) announced that US Dollar LIBOR would continue to be published until December 31, 2021 for the one-week and two-month tenors and until June 30, 2023 for the remaining, more widely used tenors.
[i] As explained in our prior Client Alerts on the transition away from LIBOR, these extensions will allow time for most legacy LIBOR contracts to mature prior to the cessation of LIBOR’s publication,
[ii] significantly reducing – or at least delaying – the potential for disputes between counterparties over the selection of an appropriate alternative reference rate. But the potential for disputes remains, particularly because the earlier-expiring one-week and two-month tenors, though less popular than those expiring in June 2023, are still prevalent in corporate len
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MCLEAN, Va., Feb. 16, 2021 /PRNewswire/ Arlington Asset Investment Corp. (NYSE: AAIC) (the Company or Arlington ) today reported net income available to common shareholders of $10.7 million, or $0.32 per diluted common share, and non-GAAP core operating income of $4.1 million, or $0.12 per diluted common share, for the quarter ended December 31, 2020. A reconciliation of non-GAAP core operating income to GAAP net income appears at the end of this press release.
Fourth Quarter 2020 Financial Highlights
$0.32 per diluted common share of GAAP net income
$0.12 per diluted common share of non-GAAP core operating income
$6.31 per common share of book value
7% economic return
February 11, 2021 | 12:01 am Font Size
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BANKS did not tap the central bank’s rediscount facility last month as liquidity in the financial system remained ample.
“There are no availments under the Peso Rediscount Facility and the EDYRF (Exporters’ Dollar and Yen Rediscount Facility) for the period covering Jan. 1 to 31,” the Bangko Sentral ng Pilipinas said in a statement.
Lenders likewise left the facility untouched in the same month in 2020. The rediscount window only saw availments in March, April, August and September last year, with cumulative loans dropping by 77.7% to P26.9 billion from the 2019 level.
On the other hand, the EDYRF was not utilized at all in 2020.
World Bank has been aggressively pushing out its curve linked to the Secured Overnight Financing Rate: the new risk free rate in dollars. Other supranationals are eager to follow the Bretton Woods institution into longer dated floating rate paper.