Although this article is focused on tax-exempt debt, the tax ramifications of the LIBOR transition are not limited to the municipal finance world, and the elimination of LIBOR may also have a significant impact on taxable...more
Everything you need to know to be prepared for the LIBOR-SOFR transition.
What to Know -
It had been recommended that the US Dollar (USD) London Interbank Offered Rate (LIBOR) be replaced by the Secured Overnight...more
There are many types of swaps: commodity swaps, foreign exchange swaps, but of primary interest to real estate lawyers are interest rate swaps. Interest rate swaps are colloquially thought of as contracts by which a naturally...more
For a variety of reasons, as has been widely reported, LIBOR is to cease to be published by the end of 2021 and this expected elimination of the index upon which financing transactions are based raises serious tax and non-tax...more
11/4/2019
/ Alternative Reference Rates Committee (ARRC) ,
Capital Gains ,
Capital Gains Tax ,
Corporate Issuers ,
Credit Default Swaps ,
Disclosure Requirements ,
Federal Reserve ,
Financial Stability Board ,
Financial Transactions ,
Interest Rates ,
Internal Revenue Code (IRC) ,
ISDA ,
Libor ,
Proposed Regulation ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Swaps ,
Tax-Exempt Bonds ,
U.S. Treasury
Many conduit tax exempt revenue bonds bear interest at a floating rate, most typically a percent of USD 1-month LIBOR (here, LIBOR).
Many of these transactions have been synthetically “fixed” by the conduit borrower entering...more
10/15/2019
/ Bonds ,
Federal Reserve ,
Interest Rate Swaps ,
ISDA ,
Libor ,
New Guidance ,
Popular ,
Proposed Regulation ,
Secured Overnight Funding Rate (SOFR) ,
Tax-Exempt Bonds ,
U.S. Treasury ,
Variable Rates