ISDA initiated two new consultations related to
amending certain floating rate options that reference interbank
offered rates ("IBORs").
The first consultation (the "Supplemental
Consultation") is a follow-up to the consultation that ISDA
published in July 2018, which sought feedback from market
participants regarding approaches for addressing certain technical
issues associated with adjustments that will apply to the risk-free
rate fallbacks for GBP LIBOR, CHF LIBOR, JPY LIBOR, TIBOR, Euroyen
TIBOR and BBSW ("July 2018 Consultation"). The July 2018
Consultation requested preliminary feedback in respect of USD LIBOR
and other specified IBORs (the "Supplemental IBORS") and
referred to the need to publish a supplemental consultation in
respect of such IBORs. The Supplemental Consultation asked market
participants whether the same approach should be adopted for the
Supplemental IBORs as was adopted for the IBORs subject to the July
2018 Consultation. Additionally, the
