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LIBOR: First They Blinked and Now Some Hope, But a New Problem and It's Big | Dechert LLP


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First, the ARRC, playing Charlton Heston, playing Moses, brings down from on high the ten commandments of SOFR and lo, we were sore afraid and with veneration, professed we had no God but SOFR.  A solution of sorts to a somewhat self-inflicted problem.  As we have observed before, we continue to think the solution to the problem of bankers diddling LIBOR is to punish bankers and shore up the system to make it more robust and not to blow up trillions of dollars of transactions and 40 years of precedent.  But that train has left the station. ....

New York , United States , Red Sea , Djibouti General , Charlton Heston , American Financial Exchange , Designed Transaction Representative , Benchmark Replacement , Designated Transaction Representative , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , சிவப்பு கடல் , சார்ல்டன் ஹெஸ்டன் , அமெரிக்கன் நிதி பரிமாற்றம் , வடிவமைக்கப்பட்டுள்ளது பரிவர்த்தனை பிரதிநிதி , பெஞ்ச்மார்க் மாற்று , நியமிக்கப்பட்ட பரிவர்த்தனை பிரதிநிதி ,