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ARTICLE · 07 OCTOBER 2020

IBOR Transition Digest

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As attention to IBOR transition accelerates and becomes more focused, it is critical to have access to comprehensive and timely resources about the market.

GlobalFinance and Banking
Mayer Brown
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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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© Copyright 2020. The Mayer Brown Practices. All rights reserved.

This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

Visit us at mayerbrown.com

Mayer Brown is a global services provider comprising associated legal practices that are separate entities, including Mayer Brown LLP (Illinois, USA), Mayer Brown International LLP (England & Wales), Mayer Brown (a Hong Kong partnership) and Tauil & Chequer Advogados (a Brazilian law partnership) and non-legal service providers, which provide consultancy services (collectively, the “Mayer Brown Practices”). The Mayer Brown Practices are established in various jurisdictions and may be a legal person or a partnership. PK Wong & Nair LLC (“PKWN”) is the constituent Singapore law practice of our licensed joint law venture in Singapore, Mayer Brown PK Wong & Nair Pte. Ltd. Details of the individual Mayer Brown Practices and PKWN can be found in the Legal Notices section of our website. “Mayer Brown” and the Mayer Brown logo are the trademarks of Mayer Brown.

© Copyright 2024. The Mayer Brown Practices. All rights reserved.

This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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