Topic: Libor

OCBC bondholders consent to £250 million Libor switch

Singapore’s OCBC Bank, advised by Linklaters, has won approval from bondholders to switch the benchmark underpinning millions of pounds in covered bonds from Libor to a new risk-free rate.

10 June 2021

“Days not weeks”: CFTC and Fed groups back accelerated Libor departure

The United States’ Commodity Futures Trading Commission’s benchmark reform committee has called for a swifter move away from Libor in interdealer swap trades, to speed up the production of a term rate for its replacement benchmark.

09 June 2021

Shariah standard-setter warns of Ibor transition risks

The International Islamic Financial Market has detailed how the global transition away from interbank offered rates (Ibors) to risk-free rates could lead to some contracts falling out of shariah compliance.

01 April 2021

Euroyen Tibor administrator proposes 2024 end-date

The administrator of Japanese benchmark Tibor has proposed halting publication of the benchmark for offshore yen deposits in 2024, while UK regulators have instructed local firms to stop including Libor in new derivatives contracts.

30 March 2021

FCA pulls the Libor trigger

The UK’s Financial Conduct Authority has made its widely-anticipated announcement of Libor’s cessation dates, while keeping open the prospect of a temporary “synthetic” Libor for so-called “tough legacy” contracts.

05 March 2021

NY Libor switch plan included in Cuomo budget

New York’s governor has included a plan in the state’s draft budget to prevent widespread disruption as Libor-linked contracts shift to new benchmarks, following lobbying from industry bodies.

21 January 2021

Banks must turn to AI to meet Libor deadline, Paul Hastings/GBRR webinar hears

Banks must make use of artificial intelligence technology for outstanding Libor contracts or risk their transition away from the benchmark stretching past its end-2021 cut-off, heard attendees of a webinar co-organised by GBRR and Paul Hastings.

23 November 2020

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