Libor

Global banks warn of market chaos if court rushes Libor exit

01/12/21

Some of the world’s biggest banks are urging a U.S. judge not to immediately terminate Libor after a group of borrowers filed suit claiming the benchmark was the work of a “price-fixing cartel.”

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Regulators warn banks against using Libor in new contracts

11/30/20

The OCC, Federal Reserve and FDIC said that a failure to adequately prepare for the transition away from Libor could undermine banks' safety and soundness, but also extended the sunset date for many iterations of the interest rate benchmark to July 2023.

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Regulators tell banks they can choose any replacement rate for Libor

11/06/20

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

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Banks brace for 'big bang' switch on $80 trillion worth of swaps

10/15/20

In a critical development in the global shift away from old benchmarks that was triggered by Libor's shortcomings, interest-rate swaps on more than $80 trillion in notional debt will transition this weekend to a new rate for determining their value.

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Libor exit sparks legal fears for global banks, Moody’s says

09/30/20

Lenders risk litigation and fines for misconduct if clients say they hadn’t fully understood the consequences of a shift to a replacement benchmark after the London interbank offered rate expires at the end of 2021, Moody's said.

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Libor is out, but SOFR isn't quite in

08/12/20

As the discredited Libor interest rate benchmark enters its last months, some banks are turning away from the repo-based alternative that regulators prefer. What could go wrong?

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The reprieve on Libor won’t last forever. Lenders need to prepare.

07/13/20

Regulators can only delay the move to a new interest rate index alternative for so long.

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CFPB proposes rule to facilitate Libor transition for creditors

06/04/20

The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021.

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The case for industrywide use of SOFR

05/11/20

The group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.

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Libor goes from dying to in demand with Fed pushing fast loans

05/06/20

Regulators on both sides of the Atlantic have spent the better part of three years trying to kill the London interbank offered rate. Now, they're looking to it once again to underpin hundreds of billions of dollars in loans as they seek to rescue their economies.

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