News & Analysis as of

U.S. Treasury Interest Rates

IR Global

Pound stumbles as UK wage growth cools

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The pound ticked lower on Thursday as the UK’s latest jobs report revived the potential of a Bank of England (BoE) interest rate cut next month. Sterling remains on the back foot so far this morning, with GBP/EUR subdued...more

Blindauer Law PLLC - Government Contracts...

Government Contracts Issues for a Recession

The bond yield curve inverted in October 2022. When that occurred, it started a countdown to recession. At least it has every time since 1968. Specifically, for the last eight recessions since 1968, every single recession was...more

Foley & Lardner LLP

Foley Automotive Update - January 2024

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This update helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities. Key Developments - Full-year 2023 U.S. new light-vehicle sales reached approximately 15.5...more

Wiley Rein LLP

Wiley Consumer Protection Download (August 7, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

A&O Shearman

USD LIBOR panel has ceased…what now?

A&O Shearman on

June 30th has passed and one-, three- and six-month USD LIBOR settings have ceased to be published. As confirmed by the FCA on 3 April 2023, the ICE Benchmark Administration (IBA) has begun publishing non-representative...more

Foley & Lardner LLP

Treasury Releases Guidance on the Transition from Interbank Offer Rates to Other Reference Rates with Respect to the Interest...

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On June 30, 2023, the United States Department of the Treasury (“Treasury”) published Final Regulations as guidance on the transition from the use of the Interbank Offer Rate (IBOR) to the Secured Overnight Financing Rate...more

Flaster Greenberg PC

Tax Pitfalls To Avoid In Employment Litigation Settlements

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By all measures, 2021 was a banner year for hiring, but 2022 and 2023 have been the opposite. According to one media source, more than 121,000 jobs in the technology sector alone — think Google LLC, Amazon.com Inc.,...more

Latham & Watkins LLP

FDIC Vice Chairman Cautions Against New Regulation as a Response to Recent Bank Failures

Latham & Watkins LLP on

In contrast with the White House’s position, the Vice Chairman denied that loosened Dodd-Frank rules contributed to the recent bank failures. On April 12, 2023, Federal Deposit Insurance Corporation (FDIC) Vice Chairman...more

Harris Beach PLLC

Bank Collapses Shake Financial and Tech Sectors

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The past week delivered three major shocks to the financial and tech worlds: first, the March 8 failure of Silvergate Bank; second, the sudden, March 10 failure of Silicon Valley Bank (“SVB”); and third, the weekend collapse...more

ArentFox Schiff

The Long and Winding Road: The End of LIBOR

ArentFox Schiff on

USD LIBOR is the last step in the long and winding road that has been LIBOR’s slow demise over the last several years as all other LIBOR instruments worldwide have already substantially transitioned. As taxpayers prepare...more

McDermott Will & Emery

Weekly IRS Roundup February 13 – February 17, 2023

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Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 13, 2023 – February 17, 2023. ...more

Foster Garvey PC

2023 Reminder to Issuers and Borrowers of LIBOR-Based Tax-Exempt Bonds: Now is the Time to Protect the Tax-Exempt Status of Bonds...

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As we welcome 2023, and the final six months of certain London Interbank Offering Rates (“LIBOR”), issuers and borrowers of LIBOR-based tax-exempt bonds should evaluate whether changes to their financing documents are...more

Holland & Knight LLP

Libor Steaming Toward June 2023 Transition

Holland & Knight LLP on

The U.S. dollar London Interbank Offered Rate (Libor) publication is scheduled to end by June 30, 2023. With roughly nine months to go as of this writing, parties still have time to make modifications to existing debt...more

Foley & Lardner LLP

Carried Interest Changes in the Inflation Reduction Act of 2022

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On July 27, 2022, Senate Majority Leader Chuck Schumer (D-N.Y.) and Senator Joe Manchin (D-W.Va.) released preliminary details of a bill, named the Inflation Reduction Act of 2022, to address climate change, taxes, health...more

Dechert LLP

Final IRS Regulations on Transition from LIBOR to Other Reference Rates

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The U.S. Department of the Treasury and the Internal Revenue Service on December 30, 2021, issued final regulations (“Final Regulations”) allowing a tax-free treatment of “covered modifications,” as defined, of certain...more

Holland & Knight LLP

Summary of Florida's Libor Discontinuance Law

Holland & Knight LLP on

The London Interbank Offered Rate's (Libor) regulator, the Financial Conduct Authority, and administrator, Intercontinental Exchange Benchmark Administration (ICE), on March 5, 2021, announced that the publication of the...more

Dechert LLP

2021 Golden Turkeys

Dechert LLP on

Welcome, dear reader, to our annual Golden Turkey Awards.  But for my commitment to absolute fairness and concern over the appearance of impropriety, I would have awarded the first Golden Turkey Award to Dechert for actually...more

McDermott Will & Emery

Weekly IRS Roundup September 13 – 17, 2021

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 13, 2021 – September 17, 2021... September 13, 2021: The IRS issued a news release...more

Rivkin Radler LLP

The Biden Administration’s Revenue Proposals For Fiscal Year 2022: Tax Increases And Forced Recognition Of Capital Gains

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Extra, Extra!- Last Friday afternoon, as millions of unsuspecting Americans prepared for the long Memorial Day weekend – for many, perhaps, their first mask-less holiday celebration in almost 15 months – the Biden...more

Lowenstein Sandler LLP

Paycheck Protection Program: FAQs For Microbusinesses - UPDATED March 2021 #2

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On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

King & Spalding

What Happened To My Interest Rate? Planning Now To Avoid Value Transfer And Other Risks Upon The Demise Of U.S. Libor

King & Spalding on

As the title suggests, U.S. LIBOR (LIBOR) is going away, with official announcements expected as soon as year-end 2020 of LIBOR’s December 31, 2021 demise. The end of LIBOR will be replete with a plethora of risks for banks,...more

Proskauer Rose LLP

Paycheck Protection Program – Where Are We Now? An Up-To-Date Guide to the Paycheck Protection Program (UPDATED)

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Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small Business Administration (the “SBA”) and the U.S Treasury Department (“Treasury”) have issued a...more

Jackson Walker

CARES Act Update – Overview of Expanded Main Street Lending Program

Jackson Walker on

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides emergency economic stimulus to small businesses and certain eligible recipients in response to the economic distress caused by the COVID-19 pandemic. The...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Estate and Gift Planning with Low Interest Rates - Making the Best of a Bad Situation

Because of the current pandemic, the August 2020 applicable federal rates and section 7520 rate are at historical lows, creating opportunities for interest sensitive estate and gift tax planning. Loans to family members or...more

White and Williams LLP

Congress Introduces HOPE-ful Solution for Distressed CRE Borrowers

U.S. Representatives Van Taylor (R-TX) and Al Lawson (D-FL) introduced a bipartisan bill in Congress on July 29, designed to provide economic relief to commercial real estate borrowers hurt by the coronavirus pandemic with...more

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