Iosco deals hammer blow to BSBY, Ameribor
Non-compliance ruling does not equate to a ban, but may strangle use by regulated firms
Source: risk.net
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Libor Is Over. We Still Need More Benchmarks to Replace It.
A new one-benchmark regime could leave markets exposed, write J. Christopher Giancarlo and Bruce Tuckman.
Source: marketwatch.com
As the Libor era ends, market participants hope for 'crickets'
The last rates based on the tarnished London Interbank Offer Rate, or Libor, were published on Friday, marking a mostly quiet end of a nearly decade-long effort to move away from what was once dubbed the world's most important number. While there has been some scrambling to amend contracts linked to Libor over the past month, the transition was well telegraphed and no major issues are expected, loan and derivatives market participants and lawyers said in interviews. The benchmark was formalized in 1986 and has been used as a reference rate for a vast array of financial products, includi...
Source: yahoo.com
Interest Rate Complications Loom as LIBOR Set to Expire July 1
US Dollar London InterBank Offered Rate LIBOR set to expire July 1 2023 creates complications for variable rate notes and bonds. Congress Federal Reserve passed legislation provide benchmarks but not thorough enough for some forms of debt.
Source: natlawreview.com
UK Financial Conduct Authority Requires IBA to Publish Synthetic LIBOR
The UK Financial Conduct Authority announced that it would indeed require IBA to publish an unrepresentative synthetic USD LIBOR for 1-, 3- and 6-month tenors for an additional year, which is expected to be further extended through September 30, 2024
Source: natlawreview.com