Libor

Synthetic USD LIBOR

12/20/22

As market participants prepare to submit comments on the recent proposal of the UK’s Financial Conduct Authority (the “FCA”) (available here) to require the temporary publication of a “synthetic” 1-, 3- and 6-month USD LIBOR, some have voiced concern that such a compelled publication of a synthetic USD LIBOR could precipitate a wave of litigation over whether certain U.S. law-governed contracts will be able to fall back to contractually agreed alternative rates in June 2023.

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CFTC Amends Clearing Requirements

08/25/22

On August 12, 2022, the CFTC issued a final rule modifying its clearing requirement for interest rate swaps (“IRS”).

The final rule updates the types of IRS required to be submitted to a registered derivatives clearing organization (“DCO”) for mandatory clearing by:

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LSTA Publishes Term SOFR Concept Document

09/07/21

On August 25, the LSTA published its Term SOFR Concept Document (the “Term SOFR Concept Document”)[1]—the latest addition to its suite of SOFR-based Concept Documents.

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