An update from the Dechert LIBOR taskforce - On July 29, 2021, the Alternative Reference Rates Committee (the “ARRC”) formally recommended the forward-looking term rates based on the secured overnight financing rate (“SOFR”)...more
My, my, my! Another governmental red line looks to be breached; at least this time no one gets hurt. We, at CrunchedCredit, have in some sense been carrying the government’s water about LIBOR transitions. We have been talking...more
The Federal Reserve Bank of New York announced last week that it will be publishing “Average SOFR” for 30, 60 and 90 days on its website starting on March 2, 2020. The confusing thing about this announcement is that the Fed...more
The ARRC Consultation on Spread Adjustment Methodologies for Fallbacks in Cash Products Referencing USD LIBOR is finally here. How the spread adjustment from LIBOR to a SOFR index will be calculated is one of the more...more
It is time to start originating Single Asset Single Borrower (SASB) large loans priced on SOFR. There, I said it. Not just LIBOR indexed loans containing a SOFR fall back when LIBOR inevitably goes away, but new loans indexed...more
LIBOR is going away, but that’s sort of old news at this point. However, it has been received wisdom that only after the Bank of England stops imposing an obligation upon member banks to publish LIBOR quotes as at the...more
The courts have been busy this year, handing down several key decisions which have affected the structured finance landscape. Among them are Omnicare, Ace Securities and Madden. In the grand tradition of the Golden Turkey...more
11/4/2015
/ Appeals ,
Banking Sector ,
Breach of Warranty ,
Midland Funding ,
Omnicare v Laborers District Council ,
Registration Statement ,
Securities Act of 1933 ,
Securitization ,
Statute of Limitations ,
Stock Repurchases ,
Structured Finance ,
Usury