Bradley Berman

Mayer Brown

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FCA Synthetic LIBOR Announcement

On April 3, 2023 the U.K. Financial Conduct Authority (“FCA”) announced that it will require the administrator of U.S. dollar LIBOR to continue to publish one, three and six-month U.S. dollar LIBOR settings until September...more

4/5/2023 / Consumer Financial Products , Financial Conduct Authority (FCA) , Financial Institutions , Financial Regulatory Reform , Financial Services Industry , Interest Rates , ISDA , Libor , Secured Overnight Funding Rate (SOFR)

What’s the Deal? article on Section 3(a)(2) bank note programs

Here’s the deal:  Section 3(a)(2) bank note programs are medium-term note programs with a “bank” as the issuer  The issuer must be a “bank,” as defined in Section 3(a)(2) of the Securities Act  Bank note...more

9/1/2021 / Bank Notes , Banks , Debt Securities , Exemptions , Financial Institutions , Registration Requirement , Securities Act of 1933

The New York LIBOR Legislative Solution Becomes Law

On April 7, 2021, the proposed New York “legislative solution” for legacy USD LIBOR contracts became Article 18-C of the New York General Obligations Law. Article 18-C is primarily aimed at USD LIBOR contracts, securities or...more

4/12/2021 / Alternative Reference Rates Committee (ARRC) , Benchmarks , Consumer Financial Products , Financial Institutions , Floating Interest Rates , Interest Rates , Legacy Contracts , Libor , Secured Overnight Funding Rate (SOFR)

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