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


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.


Libor is out, but SOFR isn't quite in


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?


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


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


CFPB proposes rule to facilitate Libor transition for creditors


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


The case for industrywide use of SOFR


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


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


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.


Small banks tell Fed its Libor replacement doesn't work for them


Officials from 10 midsize American banks said U.S. regulators' preferred index for replacing the maligned Libor benchmark is ill-suited for them.


Credit Suisse CEO leaves; Fannie, Freddie to buy SOFR mortgages


Tidjane Thiam submits his resignation; the two agencies said they will soon start accepting mortgages tied to the new rate and drop Libor by yearend.


ECB opens to large bank mergers; Deutsche Bank has a new scandal


The move by the European bank regulator is a policy shift as profitability at the region's banks continues to suffer from negative rates; the German bank paid $1.1 million to win business from a senior Saudi royal.


‘It’s game time’: Libor transition to pick up steam in new year


Regulators' oversight of the industry's switch to a new interest rate benchmark is expected to intensify as a key deadline approaches.