Islamic finance providers have been slow to make the transition away from LIBOR, as the replacement benchmark rates pose challenges in the context of Sharia compliance - The phase-out of the London Inter-Bank Offered Rate...more
Two new consultations seek market input on USD and other currencies and on inclusion of "non-representativeness" trigger - The International Swaps and Derivatives Association, Inc. ("ISDA") launched two additional IBOR...more
The Situation: The International Swaps and Derivatives Association, Inc. ("ISDA") has announced the preliminary results of its market consultation concerning the fallbacks rates to be relied on upon cessation of certain...more