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Term SOFR is Here - The ARRC Recommends CME Group’s Term SOFR Rates for Use

Global, USA - August 24 2021 On July 29, 2021, the Alternative Reference Rates Committee (the “ARRC”) formally recommended the forward-looking term rates based on the secured…

Jonathan D. Gaynor, Philippa List, Sarah Smith, Karen Stretch

Dechert on LIBOR - Officially the Beginning of the End

USA - March 11 2021 On Friday 5 March 2021, the Financial Conduct Authority (FCA) announced that all 35 LIBOR benchmark settings as currently published by ICE Benchmark…

Jonathan D. Gaynor, Philippa List, Sarah Smith, Karen Stretch

Federal Regulators to the Rescue? The OCC and FDIC Propose Rules to Address Madden Risk.

USA - December 20 2019 With the hope of finally addressing the uncertainty created by the U.S. Second Circuit Court of Appeal's holding in Madden v. Midland Funding, the…

Ari Abramovitz, David L. Ansell, David J. Harris

TALF 2.0 Extended Through 2020 and Other Updates

USA - August 11 2020 With the Term Asset-Backed Securities Loan Facility program (“TALF 2.0”) officially underway and open to investors, the…

Linda Ann Bartosch, Brian Love, Ralph R. Mazzeo, Georgina McLeod, Timothy Spangler

Federal Reserve Announces First Subscription Date of June 17, 2020 for the Term Asset-Backed Securities Loan Facility, Further Revises FAQs and Releases Master Loan and Security Agreement

USA - May 20 2020 On May 20, 2020, the Federal Reserve Board of Governors (the “Fed”) and the Federal Reserve Bank of New York (the “FRBNY”) annou…

Linda Ann Bartosch, Elliott R. Curzon, Christopher Desmond, Christopher P. Duerden, MATTHEW H. FISCHER, David J. Harris, Ralph R. Mazzeo, Georgina McLeod, Timothy Spangler, Devin M. Swaney, Laura Swihart, John M. Timperio, Cynthia J. Williams