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EURIBOR

Proskauer Rose LLP

Regulation Round Up - October 2023

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Fund Tokenisation: The Financial Conduct Authority (“FCA”) published a press release announcing that it has joined the Monetary Authority of Singapore’s Project Guardian, a collaborative initiative with the financial industry...more

Hogan Lovells

Banking and finance regulatory news, May 2021

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Collections function: PRA Dear Chief Risk Officer letter - The UK Prudential Regulation Authority (PRA) has published a letter to Chief Risk Officers (CROs) of non-systemic UK deposit takers, from Melanie Beaman, PRA...more

McGuireWoods LLP

A Market Divided: EURIBOR Consultation Shows a Divide Among Market Participants

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On November 20, 2020, the working group on euro risk-free rates (the Euro Working Group) published two consultations on fallback rates to EURIBOR. Market participants were invited to provide their views on the potential...more

McGuireWoods LLP

LMA Publishes RFR Facility Documentation

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On January 28, 2021, the UK Loan Market Association (LMA) published exposure drafts of two multicurrency term and revolving facilities agreements which incorporate, among others, backward-looking compounded risk-free rates...more

Hogan Lovells

Securities and markets regulatory news, November 2020 # 4

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Recent regulatory developments of interest to financial institutions and markets. Includes updates from the UK FCA, the European Supervisory Authorities and IOSCO, among others.  Recent regulatory developments of interest to...more

Jones Day

ISDA's IBOR Supplement and Protocol: Background, Operation, Prognosis

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The International Swaps and Derivatives Association, Inc. ("ISDA") has finally published its long-awaited "Amendments to the 2006 ISDA Definitions to include new IBOR fallbacks" ("IBOR Supplement") and accompanying "protocol"...more

A&O Shearman

International Swaps and Derivatives Association Announces Results of LIBOR Fallbacks Consultation and New Pre-Cessation Fallbacks...

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The International Swaps and Derivatives Association has published the results of its consultation on fallbacks to be introduced into standard ISDA documentation based on alternative risk-free rates for EUR LIBOR and EURIBOR....more

Orrick, Herrington & Sutcliffe LLP

L'Efficacia della clausola floor nei contratti di finanziamento

“Nel contratto di mutuo non è giuridicamente configurabile un tasso di interesse negativo che incida sul capitale mutuato. Conseguentemente, quando il tasso d’interesse sia stato pattuito in misura variabile, esso non può...more

Kramer Levin Naftalis & Frankel LLP

Banking, Finance and Insurance Letter — Novembre/Décembre 2019

Challenge of the guidelines of the European Banking Authority and notice of compliance by the Prudential Supervisory and Resolution Authority (ACPR) In its notice of September 8, 2017, the ACPR stated that it complies with...more

White & Case LLP

European Real Estate Finance: Recent developments - December 2019

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As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....more

A&O Shearman

Working Group on Euro Risk-Free Rates Recommends Fallback Provisions Contracts Referencing EURIBOR

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The European Central Bank has published a report by the working group on euro risk-free rates providing high-level recommendations for fall-back provisions in contracts for cash products and derivatives transactions...more

A&O Shearman

EU Recommendations on Financial Accounting Implications of Transition to €STR

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The European Central Bank has published a report by the working group on euro risk-free rates on the financial accounting implications of the transition from EONIA to €STR and the introduction of €STR-based fallbacks for...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - September 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more

White & Case LLP

€STR v. EURIBOR: the battle of the euro benchmark

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Tomorrow heralds an important milestone in the evolving saga of LIBOR's discontinuation, seeing the launch of the fifth and final rate, €STR, as the proposed successor to euro LIBOR. However, although in our other articles...more

A&O Shearman

HSBC v. Commission: Just Give Them a Reason

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On 24 September 2019, the EU General Court (GC) handed down its judgment in HSBC v. Commission. Consistent with recent precedent, the GC reaffirmed the European Commission (“Commission”)’s duty to provide sufficient reasons...more

A&O Shearman

EURIBOR Benchmark Statement Published

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The European Money Markets Institute has published a Benchmark Statement on the administration of Euro Interbank Offered Rate (Euribor)...more

Robins Kaplan LLP

Financial Daily Dose 7.2.2019 | Top Story: OPEC Nations Cut Production into 2020

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OPEC nations met yesterday and agreed to continue their production cutting goals into 2020 in an effort to, according to the experts, “prop[] up prices while demand for oil is weakening”....more

Robins Kaplan LLP

Financial Daily Dose 6.25.2019 | Top Story: Allergan and AbbVie Combine Forces in $63 Billion Deal

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Massive pharma news to start the day, with AbbVie announcing that it’s reached a deal to buy Allergan for roughly $63 billion. The tie-up is seen as giving AbbVie a “dominant position in the $8 billion-plus market for Botox...more

Robins Kaplan LLP

Financial Daily Dose 5.20.2019 | Top Story: Google and Chipmakers Ditch Huawei

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Google parent company Alphabet [and a host of chipmakers] formally suspended all business with Huawei “that requires the transfer of hardware, software and technical services except those publicly available via open source...more

BCLP

The right measures - Minimising business disruption from BMR

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The Benchmarks Regulation (BMR) – or to give it its long name, the Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds ((EU) 2016/1011) –...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Just months after Whole Foods raised prices on certain items after an initial Amazon-pushed lowering, Bezos & Co. are planning cuts on “hundreds of items” as early as this week in an effort to “change the chain’s high-cost...more

Jones Day

Reforming Euribor: The Complicated Transition to Hybrid Methodology

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The Situation: The updating of the Euro Interbank Offer Rate ("Euribor") to align it with the EU Benchmark Regulation 2016/1011 ("EU BMR") is in full swing. Under the EU BMR, only EU and third country BMR compliant benchmarks...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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OxyContin maker Purdue Pharm is prepping for a possible bankruptcy filing “as it seeks to contain liability from hundreds of lawsuits alleging it fueled the nation’s opioid epidemic.” Officially, the company went on the...more

A&O Shearman

Landmark benchmark manipulation claim fails

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Marme v Natwest Markets & Others - The High Court today (25 February 2019) handed down judgment in the case of Marme Inversiones v Natwest Markets plc & Others([2019] EWHC 366 (Comm)), dismissing Marme's misrepresentation...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Qatar and ExxonMobil are teaming up on a $10 billion natural gas investment plan in Texas and America’s growing status as an LNG exporting power....more

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