The latest issue of Mayer Brown's IBOR Transition Digest contains an exciting and important announcement: the launch of our IBOR blog, a new resource to bring you near real-time updates and insights of emergent IBOR transition issues. As attention to IBOR transition accelerates and becomes more focused, it is critical to have access to comprehensive and timely resources about the market.
For additional resources and an introduction to our global
cross-practice IBOR Transition Task Force, please visit Mayer
Brown's IBOR Transition portal.
THOUGHT LEADERSHIP
Eye on IBOR Transition
blog
(New blog, launched 29 September 2020)
We are pleased to announce the launch of a new blog designed to
enable our global, cross-practice IBOR experts to keep market
participants abreast, in real time, of continuing regulatory and
legislative announcements, and other market developments, and help
market participants view these events through a clearer lens as
they watch the clock count down to 31 December 2021. Initial posts
include recent events relating to China's identification of a
fallback rate, revisions to the EU Benchmark Regulation,
SONIA-based FRN conventions and LMA drafting tools, and US loan
syndicate lender considerations. Read our full press release.
NEWS AND DEVELOPMENTS
United Kingdom - Derivatives
Letter to ICE Benchmark re GBP LIBOR
ICE Swap Rate
Working Group on Sterling Risk-Free Rates, 18 September
2020
Seeking to better understand the expected status of, and IBA's
plans regarding, IBA's GBP LIBOR ICE Swap Rate in the event
that GBP LIBOR ceases or becomes unrepresentative, or of reduced
liquidity in GBP LIBOR swaps prior to these events, in order for
the Working Group to assess the potential impact for legacy
non-linear derivatives, and to identify options to promote a smooth
and orderly transition in this market.
Global - Derivatives
Letter to Regulators re Timing of the
ISDA IBOR Fallbacks Protocol
(ISDA, 21 September 2020)
Letter to regulators flagging the revised effective date for the
IBOR Fallbacks Supplement and IBOR Fallbacks Protocol, which now is
expected to occur in mid- to late-January 2021.
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