CFTC Issues No-Action Relief for Derivatives Market IBOR Transition

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While not unlimited, the relief is welcome for counterparties seeking to transition to risk-free rates for legacy swaps.

The US Commodity Futures Trading Commission (CFTC) has issued no-action relief to help market participants transition away from the London Interbank Offered Rate (LIBOR) and other interbank offered rates (collectively, the IBORs).

Please see full Alert below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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