Going Through Changes: Transitioning to a LIBOR-less World for Consumer Loans

Mayer Brown
Contact

It is widely anticipated that the London Interbank Offered Rate (“LIBOR”) will be discontinued in 2021. As LIBOR commonly is used as an index rate for both residential mortgage and consumer loans, its discontinuance has the potential to have a significant impact on lenders, servicers, and consumers. Since 2014, industry leaders have been working to settle on an alternative index and transition plan to minimize the disruption of the move away from LIBOR. Through its efforts, the Alternative Reference Rates Committee (“ARRC”)1 has identified a newly created rate, the Secured Overnight Financing Rate (“SOFR”), as a suitable LIBOR replacement and has established a SOFR implementation framework.

Please see full publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

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. Attorney Advertising.

© Mayer Brown

Written by:

Mayer Brown
Contact
more
less

PUBLISH YOUR CONTENT ON JD SUPRA NOW

  • Increased visibility
  • Actionable analytics
  • Ongoing guidance

Mayer Brown on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide