Welcome to the latest issue of Mayer Brown's IBOR Transition Digest—a periodic compendium of global regulatory and market developments and insights on the complex issues confronting financial market participants as they plan to transition from LIBOR and its variants to replacement benchmark interest rates. As attention to IBORtransition 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 | News and Developments | Events
THOUGHT LEADERSHIP
2021 Structured
Products Legal, Regulatory and Market Briefing
Structured Products Association, 13 May 2021
Industry leaders, including Mayer Brown attorneys, speak
on the latest legal, regulatory and market developments in the
structured products market, including an update on LIBOR
transition, ARRC developments, the ISDA IBOR Protocol, and New York
State LIBOR legislation.
NEWS AND DEVELOPMENTS
United States – General
ICMA's
Official Sector Panel on the Transition to Risk Free
Rates
Federal Reserve Bank of New York, 2 June 2021 – panel
discussion among Nathanial Wuerffel and representatives of the FCA,
SNB, and ECB
Discussing progress to date and the remaining challenges
in the transition from LIBOR/interbank offered rates to risk-free
rates, international coordination, and key messages from the
official sector for market firms in the run-up to the end of
2021.
IHS Markit
Begins Publishing Daily Credit Inclusive Term Rate (CRITR) and
Credit Inclusive Term Spread (CRITS) for US Dollar
Funding
IHS Markit, 1 June 2021
The CRITR and CRITS are designed to be a broad-based
measure of funding levels for banking institutions funding in U.S.
Dollar, in institutional markets, on a senior unsecured basis, and
use virtually all USD institutional certificate of deposit,
commercial paper, and bank-issued corporate bond transactions as
input. The rate is administered by IHS Markit Benchmark
Administration Ltd. in compliance with the UK Benchmark Regulation
and the IOSCO Principles for Financial Benchmarks.
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