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Mid-Year Check In on LIBOR Transition Developments

United Kingdom - June 28 2021 The last few months have seen the pace of change accelerate in the business loan market's transition away from LIBOR. Several alternatives to the…

Donald A. Ensing, Jennifer J. Kafcas, Barlow T. Mann, Susan C. Rodriguez, Alvino S. van Schalkwyk

LMA Publish Recommended Form of Reference Rate Selection Agreement

United Kingdom - June 7 2021 On June 4, 2021, the Loan Market Association (LMA) published a recommended form of its reference rate selection agreement (the Selection Agreement)…

Lauren J. Blaber, Jennifer J. Kafcas, Alvino S. van Schalkwyk

FCA Consults on Use of New LIBOR Transition Powers

United Kingdom - May 20 2021 Consultation on its proposed policy framework for exercising two of its new powers under the Benchmarks Regulation, as introduced by the UK Financial…

Lauren J. Blaber, Jennifer J. Kafcas, Alvino S. van Schalkwyk

LSTA RFR Credit Agreements Are Here: LSTA publishes Daily SOFR (and Daily RFR) Concept Credit Agreements

USA - May 17 2021 On May 6, the LSTA published its long-awaited concept Daily SOFR and risk-free rate (RFR)-based multicurrency credit agreements (the Concept RFR…

Donald A. Ensing, Jennifer J. Kafcas, Susan C. Rodriguez, Alvino S. van Schalkwyk

LIBOR Legislation Bill Passed by New York State Legislature

United Kingdom, USA - April 15 2021 On March 24, 2021, the New York State Legislature passed a Senate Bill (the Bill) regarding the discontinuation of USD LIBOR, which will cease in…

Donald A. Ensing, Jennifer J. Kafcas, Barlow T. Mann, Alvino S. van Schalkwyk