The State of New York has enacted a new law that should ease the transition away from US dollar LIBOR for legacy financial contracts that are governed by New York law but do not contain modern benchmark fallback provisions. ...more
Often referred to as “the world’s most important number”, the London Interbank Offered Rate (LIBOR) is used as the reference interest rate for a range of commercial and financial contracts worth hundreds of trillions of...more
LIBOR is the reference rate for hundreds of trillions of dollars in financial contracts, ranging from syndicated loans, floating rate bonds and notes, to individual home mortgages, consumer and student loans, and other simple...more