This constitutes the third in a four-part series that discusses the practice of repledging (sometimes referred to as “rehypothecation”), how standard agreements allow for repledging, the treatment of repledging under current...more
Although July 3 was the first business day on which no USD LIBOR was published, many financial instruments will not reset until the next reset date, based upon the tenor of each instruments’ underlying benchmark, which could...more
The practice of repledging (sometimes referred to as “rehypothecation”) is utilized in, among others, loan, swap, and brokerage transactions. In connection with troubled financing institutions, it may be a classic example of...more
Nearly 14 years ago, guidance was provided by federal regulators to facilitate commercial real estate loan work-outs.
Rather than ‘extend & pretend,’ regulators had encouraged, and are encouraging, banks to work with...more
The focus of regulators in the United States and the United Kingdom had been to correctly transition away from LIBOR due to past bank manipulations.
After nearly two (2) years in the making, the International Swaps and...more