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UK HM Treasury Consults on Safe Harbor Rules for Legacy LIBOR Contracts

United Kingdom - February 17 2021 On February 15, 2021, the UK Treasury published a consultation paper on potential legal ‘safe harbor’ rules for legacy LIBOR-referencing contracts…

Jennifer J. Kafcas, Harry Poland, Alvino S. van Schalkwyk

European Union’s Legislative Fix for the Cessation of LIBOR

European Union, United Kingdom - February 15 2021 On February 13, 2021, the European Union’s (EU) amendments to the Benchmarks Regulation (2016/1011) (the Amended BMR) came into force, which provides…

Jennifer J. Kafcas, Harry Poland, Alvino S. van Schalkwyk

LMA Publishes RFR Facility Documentation

European Union, United Kingdom - January 29 2021 On January 28, 2021, the UK Loan Market Association (LMA) published exposure drafts of two multicurrency term and revolving facilities agreements…

Lee Cullinane, Jennifer J. Kafcas, Linn Mayhew, Harry Poland, Alvino S. van Schalkwyk

Key Date Reminder: ISDA’s IBOR Fallbacks Goes Live

United Kingdom - January 25 2021 ISDA’s IBOR Fallbacks Supplement and Protocol came into effect today. These fallbacks, which are discussed in more detail here, will be incorporated…

Jennifer J. Kafcas, Harry Poland, Alvino S. van Schalkwyk

Roadmap to the End of LIBOR - Where Are You?

United Kingdom - January 19 2021 With the end of LIBOR in sight, on January 11, 2021 the Bank of England, FCA and Working Group on Sterling Risk-Free Reference Rates (the Working…

Lee Cullinane, Jennifer J. Kafcas, Linn Mayhew, Harry Poland, Alvino S. van Schalkwyk