Cornerstone Research Experts in Focus: Andrea Eisfeldt
Videocast: Asset management regulation in 2020 videocast series – Regulators step up pressure to implement LIBOR transition plans
Podcast: CFTC Issues LIBOR Transition Relief for Swaps
Podcast: Credit Funds: Replacing LIBOR – Steps To Consider Taking Now
Wayward Financial Institutions Facing Increasingly Stricter Punishment
Weekly Brief: New DOJ Tact Pushes Bank Subsidiaries To Admit Guilt
Weekly Brief: Will RBS Plead Guilty In LIBOR Scandal?
Corporate Law Report: U.S. Manufacturing, Social Media, Online Endorsements, Hart Scott Rodino, More
Weekly Brief: Lawyers Advised To Accept New Reality
Jonathan Armstrong on Global Regulatory Cooperation
The credit derivatives determinations process has, for some time, been clouded in relative mystery. As credit default swap (CDS) strategies have grown more complex and gray-area issues have become more commonplace, advocacy...more
LIBOR transition and fallbacks in uncleared derivatives: Sterling Working Group statement and paper - Recent UK and EU regulatory developments of interest to financial institutions and markets. Also check our Financial...more
On May 27, 2020, the US Alternative Reference Rates Committee (ARRC) published updated best practices guidance, including a summary factsheet, complete best practices guidance and a graphical timeline. ...more
On May 27, 2020, the Alternative Reference Rates Committee (“ARRC”) published recommended best practices for preparing for the end of USD LIBOR (the “Best Practices”). The Best Practices aim to provide appropriate target...more
The McClatchy Company (MNI) Mellows Out - For a name on which $380 million was written at the time of the credit event and that had attracted some publicity in 2018, the scarcity of unsecured bonds (only around $15...more
1. What is LIBOR and why is it going away? The London Interbank Offered Rate, or “LIBOR,” is a reference rate commonly used in a broad range of financial contracts. In fact, it serves as a reference rate for tens of...more
The Financial Stability Board has published its work program for 2020. The FSB confirms that it will continue to monitor developments to identify and manage new and emerging risks, work to finalize the outstanding components...more
The Financial Stability Board has published a progress report on reforms to major interest rate benchmarks. The report provides the FSB's annual update on progress taken by the official sector and market participants to move...more
In 2012, the Wheatley Review recommended reform rather than replacement of LIBOR, on the basis that a transition to a new benchmark would pose an unacceptably high risk of financial instability. Reform came in the form of a...more
In 2017, Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo made clear he will strive to improve, not abolish, many reforms the CFTC adopted to implement the Dodd-Frank Act’s mandate for new...more
The U.S. Federal Reserve Board is requesting public comment on proposed plans for the Federal Reserve Bank of New York and the Office of Financial Research to publish three new reference rates intended as alternatives to the...more
LIBOR Discontinuance and the Derivatives Markets - On July 27, the Chief Executive of the UK Financial Conduct Authority announced that, after the end of 2021, the FCA would no longer use its power to persuade or compel...more
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