News & Analysis as of

IOSCO Libor

Cadwalader, Wickersham & Taft LLP

Quick Updates From the UK and Europe

There's been a flurry of regulatory activity in the UK and Europe over the past few weeks. Here's a look at the highlights. The EU has renewed its determination that the solvency regime for US-headquartered insurers and...more

King & Spalding

What is Happening to My LIBOR Now? Simplification of the ARRC’s Hardwired Approach

King & Spalding on

On March 25, 2021, the Alternative Reference Rates Committee (the “ARRC”) issued supplemental guidance to its recommended hardwired fallback language for U.S. dollar LIBOR denominated syndicated and bilateral business loans....more

Hogan Lovells

Securities and markets regulatory news, March 2021

Hogan Lovells on

UK CCPs: HM Treasury consults on expanded resolution regime - HM Treasury is consulting on an expanded resolution regime for central counterparties (CCPs). HM Treasury intends to revise and expand the UK CCP resolution...more

Jones Day

Stay of Execution Proposed for USD LIBOR

Jones Day on

ICE Benchmark Administration Limited ("IBA") upends market expectations by announcing a consultation on an 18-month extension for most tenors of USD LIBOR. IBA announced on November 30, 2020, that it would launch a market...more

Hogan Lovells

Financial institutions general regulatory news, March 2020 #3

Hogan Lovells on

COVID-19: PRA Dear CEO letter on IFRS 9, capital requirements and loan covenants - On 26 March 2020, the Prudential Regulation Authority (PRA) published a Dear CEO letter giving guidance on consistent and robust...more

Wilson Sonsini Goodrich & Rosati

SEC Chairman Issues Public Statement Related to Disclosure Modernization, Coronavirus, and Environmental and Climate-Related...

On January 30, 2020, Chairman Jay Clayton (the chairman) of the U.S. Securities and Exchange Commission (SEC, or the commission) issued a statement related to 1) financial disclosures and performance metrics in light of the...more

White & Case LLP

LIBOR and the transition to SOFR: the multiple options to transition

White & Case LLP on

LIBOR, the reference rate for more than US$300 trillion of contracts globally and nearly US$200 trillion of US dollar contracts, is expected to cease after the end of 2021. In highlighting the limitations of the LIBOR reforms...more

A&O Shearman

Allen & Overy's weekly update on Key Regulatory Topics - 15 June - 21 June 2018

A&O Shearman on

BREXIT - TheCityUK paper on continuity of cross-border financial contracts post-Brexit - On 20 June, TheCityUK published a paper on the continuity of cross-border financial contracts post-Brexit. In the paper, TheCityUK...more

Miles & Stockbridge P.C.

Post LIBOR, The New York Fed Introduces the Treasury Repo Reference Rates

On April 3, 2018, in preparation for the discontinuation of the London Interbank Offered Rate (LIBOR; for background on the discontinuation of LIBOR, see our prior blog post), the Federal Reserve Bank of New York (“Reserve...more

Morrison & Foerster LLP

Setting the New Benchmark: EU Regulation on Financial Benchmarks

Background - The integrity of benchmarks used in financial transactions has been the subject of increasing focus from regulators since the investigations into manipulation of the setting of LIBOR, EURIBOR and other...more

K&L Gates LLP

Dodd-Frank Turns Five, What Comes Next?

K&L Gates LLP on

The 2008 credit crisis was the beginning of an era of unprecedented government management of the capital markets. July 21, 2015 marked the fifth anniversary of the hallmark congressional response, the Dodd-Frank Wall Street...more

Orrick - Finance 20/20

Reviews into LIBOR, EURIBOR and TIBOR

Orrick - Finance 20/20 on

On July 22, the International Organisation of Securities Commissions (IOSCO) published a Web page on its review of the implementation of IOSCO’s principles for financial benchmarks by administrators of the London Interbank...more

Sheppard Mullin Richter & Hampton LLP

The Libor Scandal: What's Next?

The London Interbank Offered Rate (Libor) is calculated daily by the British Banking Association (BBA) and published by Thomson Reuters. The rates are calculated by surveying the interbank borrowing costs of a panel of banks...more

Morrison & Foerster LLP

IOSCO Consultation Report on Financial Benchmarks

Background - As we have previously reported, a Task Force of the International Organization of Securities Commissions (“IOSCO”) published a consultation on financial benchmarks on 11 January 2013 in response, in part,...more

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