Another key IBOR transition date has passed, but there still is work to be done. Active transition continues in Canada and Asia, and the final synthetic LIBOR settings—1-, 3-, and 6-month USD LIBOR—will cease publication in a couple of months.
The IBOR Transition Digest is a periodic compendium of global regulatory and market developments and insights on the complex issues confronting financial market participants as they continue to transition from LIBOR and its variants to replacement benchmark interest rates. With 30 June 2023 quickly approaching, it is critical to have access to comprehensive and timely resources about the market.
For additional resources and an introduction to our global cross-practice IBOR Transition Task Force, please visit Mayer Brown's IBOR Transition portal.
News and Developments | Thought Leadership | Events
NEWS AND DEVELOPMENTS
United States – Syndicated and Bilateral Loans
End September Cessation for Libor: We Mean
It!
Loan Syndications & Trading Association, 18 June
2024
Advising market participants to take stock of any existing credit
agreement that references one or more of the USD settings and
endeavor to transition any affected agreement to a replacement rate
ahead of permanent cessation. Some technical details around
permanent cessation are highlighted.
Canada – Syndicated and Bilateral Loans
CARR to begin publishing data on the transition of
CDOR based loans to CORRA
Canadian Alternative Reference Rate Working Group, 15 April
2024
CARR will begin to publish two monthly reports reporting the
aggregated outstanding amount of CDOR loans that have not transitioned to other
benchmarks, the volume of new loans referencing CORRA and/or Term
CORRA, and trading volumes of bankers' acceptances.
Changing lanes: The road ahead post CDOR and
BAs
Canadian Alternative Reference Rate Working Group and PwC,
29 February 2024
A webinar focusing on lending and hedging, and the transition away
from the Bankers' Acceptance market as the cessation of CDOR
approached.
To view the full article, click here.
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