News & Analysis as of

Interest Rate Swaps

Deal contingent swaps – A Borrower's Holy Grail?

by White & Case LLP on

With signs that the global economy is in the best shape it has been for some time, a number of central banks are raising interest rates. The risk of higher interest rates and corresponding upward trends in forward interest...more

The Transition Away From USD LIBOR for Swaps - A Report for U.S. Market Participants

by Moore & Van Allen PLLC on

With the Financial Conduct Authority (the “FCA”) announcing in July 2017, essentially, its intent to no longer persuade or compel panel banks to make LIBOR submissions by the end of 2021, the future of LIBOR, and its role in...more

Comfort in consistency – Dexia Crediop S.P.A. v. Comune di Prato [2017] and international use of the ISDA Master Agreement

by Dentons on

The Court of Appeal has reversed a judgment of the Commercial Court which had worrying implications for banks concluding international transactions using standard form ISDA documentation (and, by implication, other standard...more

The Application of Mandatory Rules of Italian Law to Interest Rate Swaps Governed by an English Law ISDA Master Agreement: English...

by Morrison & Foerster LLP on

Where parties to a contract choose English law to govern that contract, there are few rules that allow a foreign law to intervene. The recent decision of the Court of Appeal in Dexia Crediop SpA v Comune di Prato [2017] EWCA...more

Recovery of interest swap break costs on early redemption of loan

by Allen & Overy LLP on

Could the bank recover under an indemnity in a loan agreement for the costs of unwinding a related interest rate swap when the loan was redeemed early by the borrower? In earlier proceedings, Warren J had ruled that the bank...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

With complaint piling up, Fannie Mae has decided to stop selling REO properties to Vision Property, the rent-to-own home business that’s been the subject of predatory-lending investigations of late....more

Chris Lazarini Discusses Heightened Pleading Standard Under Rule 9(b)

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed the heightened pleading standard for claims of fraud under Rule 9(b) in an auction rate securities case....more

Judge rejects all claims in first LIBOR manipulation case to reach trial

by DLA Piper on

On 21 December 2016 Mrs Justice Asplin handed down a keenly awaited judgment in the case of Property Alliance Group Limited v The Royal Bank of Scotland PLC [2016] EWHC 3342 (Ch) dismissing all of the claimant’s claims. The...more

Delay to EU Clearing Obligation for Certain Financial Institutions Recommended

by Shearman & Sterling LLP on

The European Securities and Markets Authority published a Report recommending that the clearing obligation for financial institutions with low trading volumes be delayed until June 21, 2019. The European Market Infrastructure...more

US Commodity Futures Trading Commission Expands Interest Rate Swap Clearing Requirement

by Shearman & Sterling LLP on

The CFTC expanded the existing clearing requirement to interest rate swaps through an amendment to regulation 50.4(a), requiring that market participants submit a covered swap for clearing by a derivatives clearing...more

Corporate and Financial Weekly Digest - Volume XI, Issue 38

BROKER-DEALER - FINRA Proposes Rule to Modify Fees and Transaction Credits for the FINRA/NYSE Trade Reporting Facility - On September 28, the Financial Industry Regulatory Authority proposed an amendment to modify...more

Clearing obligation for EEA currency interest rate swaps under EMIR published in the Official Journal of the European Union

by Shearman & Sterling LLP on

A Commission Delegated Regulation supplementing the European Market Infrastructure Regulation with regard to Regulatory Technical Standards on the clearing obligation was published in the Official Journal of the European...more

Dutch Foundation Dismissed for Inadequate Safeguarding of Members’ Interests

On June 29, 2016, the Dutch Court of East Brabant dismissed a foundation’s claims against Rabobank Group for alleged unlawful selling of interest rate swaps because it failed to meet the requirement of the Dutch Claim Code...more

CFTC Proposes to Expand Mandatory Clearing to Include Additional Classes of Interest Rate Swaps

On June 9, the Commodity Futures Trading Commission (CFTC) released a notice of proposed rulemaking regarding an expansion of CFTC Regulation 50.4(a). If adopted, additional classes of interest rate swaps will become subject...more

CFTC Proposes to Apply Clearing Requirement to Additional Interest Rate Swaps

On June 9, 2016, the Commodity Futures Trading Commission (CFTC) proposed to require additional interest rate swaps to be centrally cleared. Since December 2012, the CFTC has required four classes of interest rate swaps...more

Corporate and Financial Weekly Digest - Volume XI, Issue 23

SEC/CORPORATE - SEC Adopts Amendment to Form 10-K Permitting the Summary of Business and Financial Information - On June 1, the Securities and Exchange Commission adopted an interim final rule (Rule), as mandated...more

Newsletter: May 2016

Pleading Common Law Fraud Under Rule 9(b): Conflicting Circuit Court Interpretations - Federal Rule of Civil Procedure 9(b) prescribes the standards for pleading a common law fraud claim. The Rule states that “[i]n...more

Alaska Electrical Pension Fund v. Bank of America: A Key Decision for Plaintiffs in the ISDAFix Antitrust Litigation

A significant decision was recently issued in the ISDAfix antitrust class action, titled Alaska Electrical Pension Fund v. Bank of America, N.A., 2016 WL 1241533 (S.D.N.Y. Mar. 28, 2016), in which Quinn Emanuel is co-lead...more

New decision on bank’s duties re interest rate swaps

by Reed Smith on

The 11th senate of the German Federal Supreme Court again had to deal with the duties of a bank recommending interest rate swap agreements. In this context, the German Federal Supreme Court re-affirmed on 22 March 2016 – XI...more

CFTC and EU Regulators Agree on a Common Approach for the Regulation of CCPs

Last week, the Commodity Futures Trading Commission (CFTC) and European regulators announced that they have reached agreement on a “common approach” regarding requirements for central counterparties (CCPs) (i.e.,...more

"A Case Based On Hindsight" - Misselling Claim Rejected

by Allen & Overy LLP on

The High Court in Thornbridge Ltd v Barclays Bank plc [2015] EWHC 3430 (QB), 27 November 2015 has rejected an interest rate swap misselling claim for losses allegedly arising as a result of the defendant bank having acted...more

Financial Services Regulation - Exchange International Newsletter - Issue 28 - January 2016

by DLA Piper on

DLA Piper’s Financial Services International Regulatory team welcomes you to the twenty-eighth edition of ‘Exchange – International’ – an international newsletter designed to keep you informed of regulatory developments in...more

A new thorn in the side of claimants in swap mis-selling claims

by DLA Piper on

In December 2015 the High Court handed down its judgment in Thornbridge Limited v Barclays Bank PLC [2015] EWHC 3430 (QB), a swaps mis-selling claim involving an interest rate hedge. The customer lost on all counts. The...more

High Court rules no advisory duty for bank over interest rate swap connected to loan

by Dentons on

The High Court has dismissed claims that Barclays Bank PLC had undertaken an advisory duty and breached its obligation not to mislead when agreeing an interest rate swap with the borrower in Thornbridge Ltd v. Barclays Bank...more

Clearing To Commence in the European Union in June 2016

by Katten Muchin Rosenman LLP on

On December 2, the European Securities and Markets Authority issued a press release stating that clearing as required under the European Market Infrastructure Regulation would commence on June 21, 2016. This date follows the...more

50 Results
|
View per page
Page: of 2
Cybersecurity

"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:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.