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Posts in SOFR.
Never Waste a Crisis: How Coronavirus May Help Shape the LIBOR Transition

The transition away from LIBOR was born from the financial crisis.  For years regulators have been pushing for an alternative to the dominant market benchmark.  The underlying market was illiquid.  The rate was set by opinion, not transactions.  It was easily manipulated.  It was set by only the largest of financial institutions.  In the U.S., SOFR—the secured overnight funding rate—has been designated as the LIBOR replacement.  In many ways, it cures the ills of LIBOR.  The underlying market is liquid and the rate is set by actual transactions.  But in many ways it is wholly dissimilar to ...

U.S. Regulator Suggests Easing Post-Crisis Derivatives Rules

By Neil Bloomfield. In another sign of progress, the Federal Deposit Insurance Corporation (FDIC) proposed easing a rule that requires banks to put cash aside to safeguard derivatives trades among affiliates. The proposal would remove the current requirement for members within the same bank group to post margins upfront when trading derivatives.  According to a 2018 survey conducted by the International Swaps and Derivatives Association (ISDA), the new rule could free up to $40 billion across some of the largest banks. FDIC Chairman Jelena McWilliams also stated that revoking the ...

About MVA White Collar Defense, Investigations, and Regulatory Advice Blog

As government authorities around the world create a constantly evolving regulatory environment, conduct overlapping investigations, and bring parallel proceedings, companies are facing perhaps the most challenging regulatory and criminal enforcement environment. Moore & Van Allen has created this blog to help keep our clients up to date in these fast-moving areas and to serve as a thought leader as regulations and enforcement policy continue to develop. Our blog is a combined effort of Moore & Van Allen’s White Collar Defense and Investigations Team and our Financial Regulatory Advice and Response Team.

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