News & Analysis as of

Libor Interest Rate Swaps

Latham & Watkins LLP

“SOFR First” Initiative Takes Flight

Latham & Watkins LLP on

As the countdown to the LIBOR sunset enters its final six months, the CFTC staff is trying to help the market transition. With less than six months to go before the London Interbank Offered Rate (LIBOR) expires on December...more

ArentFox Schiff

Recommended Benchmarks or Credit-Sensitive Indices: The Best Path Forward?

ArentFox Schiff on

The best benchmark for a company or a bank primarily depends upon the entity’s debt/interest rate swap situation as summarized below. This analysis also touches on the rationale behind the derivatives market's recent embrace...more

ArentFox Schiff

USD LIBOR Transition Period Extended Through 2023

ArentFox Schiff on

Everything you need to know to be prepared for the LIBOR-SOFR transition. What to Know - ed that the US Dollar (USD) London Interbank Offered Rate (LIBOR) be replaced by the Secured Overnight Financing Rate (SOFR) as a...more

Greenbaum, Rowe, Smith & Davis LLP

The Clock Is Ticking Towards the End of LIBOR; What Borrowers Can Do Now to Mitigate the Risks

Since the end of 2017, we have been talking about the discontinuation of LIBOR as a reference rate for borrowers who finance with floating rate loans.  The December 2021 end date is fast approaching, but much work remains to...more

ArentFox Schiff

Swaps 101 and the Death of LIBOR

ArentFox Schiff on

There are many types of swaps: commodity swaps, foreign exchange swaps, but of primary interest to real estate lawyers are interest rate swaps. Interest rate swaps are colloquially thought of as contracts by which a naturally...more

Bass, Berry & Sims PLC

Demise of LIBOR: Overview of Possible Basis Risk for Swapped Floating Rate Loans

Bass, Berry & Sims PLC on

Basis Risk of Floating Rate Loans - In connection with the likely cessation of LIBOR as a viable index at the end of 2021 or earlier, any borrower with floating rate loans based on LIBOR that has hedged, or plans to hedge,...more

ArentFox Schiff

The End of Libor – Proposed Helpful Guidance for Borrowers from the Treasury Department for Tax Exempt Bond Obligors – With Some...

ArentFox Schiff on

Many conduit tax exempt revenue bonds bear interest at a floating rate, most typically a percent of USD 1-month LIBOR (here, LIBOR). Many of these transactions have been synthetically “fixed” by the conduit borrower entering...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Staff Encourages Proactive Approach to Libor Transition Issues

On July 12, 2019, the staff of the Division of Corporation Finance, Division of Investment Management, Division of Trading and Markets, and Office of the Chief Accountant (Staff) of the Securities and Exchange Commission...more

Moore & Van Allen PLLC

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

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

Katten Muchin Rosenman LLP

CFTC Requests Public Comment on MAT Filings by Javelin and trueEX

The Commodity Futures Trading Commission has requested public comment on determinations by Javelin SEF, LLC (Javelin) and trueEX, LLC (trueEX) to make certain interest rate swaps “available to trade.” Once those...more

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