MVA Financial Services Counsel Ed Ivey‘s article titled “Election Season Special: 2021 Candidates for LIBOR Replacement” was recently published in the Futures & Derivatives Law Report, a Thomson Reuters publication. The article provides an overview and analysis regarding the various non-SOFR alternative reference rates, such as Ameribor, and issues related to the chances such rates have at being adopted and widely used in the market.
Get excited. The next big election season is about to kick-off. The London Inter- bank Offered Rate (“LIBOR”) is going away, and despite the impact COVID-19 has had on the global market, the United Kingdom’s Financial Conduct Authority, with the support of the U.S. Federal Reserve, continues to stay committed to transitioning the market away from new LIBOR contracts by December 31, 2021. This sentiment was reaffirmed more recently following the announcement by the ICE Benchmark Administration (“IBA”), the administrator of LIBOR, that the IBA will consult on its intention to cease publication of the one-week and two-month USD LIBOR settings immediately following the LIBOR publication on December 31, 2021, and the remaining USD LIBOR settings immediately following the LIBOR publication on June 30, 2023.
The complete article can be viewed here.
About MVA White Collar Defense, Investigations, and Regulatory Advice Blog
As government authorities around the world conduct overlapping investigations and bring parallel proceedings in evolving regulatory environments, companies face challenging regulatory and criminal enforcement dynamics. We help keep our clients up to date in these fast-moving areas and to serve as a thought leader.
MVA White Collar Defense, Investigations, and Regulatory Advice Blog Updates
- Riding the Regulatory Enforcement Train: FINRA Issues Reminder on Supervisory Liability for Chief Compliance Officers
- Acting Comptroller Hsu Suggests a Potential Path Forward to Address Identified Gaps in the Regulatory Resolution Framework for Large Regional Banks
- SEC Announces Exam Priorities for 2022
- Federal Agencies Focused on Discriminatory Home Valuation Practices