Final Countdown - 30 days and counting until the final publication of a representative and compliant USD LIBOR!
The IBOR Transition Digest is a periodic compendium of global regulatory and market developments and insights on the complex issues confronting financial market participants as they continue to transition from LIBOR and its variants to replacement benchmark interest rates. As the market moves to the next phase of IBOR transition, 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
View all of our IBOR transition thought leadership under the Perspectives tab of our IBOR Transition portal page and on our Eye on IBOR Transition blog.
NEWS AND DEVELOPMENTS
United States – General
ARRC Statement on the Last 30 Days before U.S.
Dollar LIBOR Panels End
Alternative Reference Rates Committee, 31 May
2023
The subheading says it all: "Firms Should Already Be
Fully Prepared for this Imminent Deadline; Those with Remaining
Exposures Are Urged to Draw Upon Readily Available Transition Tools
Now." A number of those tools are listed.
ARRC May 25 Meeting Readout
Alternative Reference Rates Committee, 25 May
2023
Of note: Market participants must understand their
fallbacks generally, particularly for end users with both
derivative positions and cash product positions, as well as
fallbacks for contracts referencing ICE USD LIBOR Swap Rates, which
are not covered by the LIBOR Act and may be forced to rely on
dealer polling.
Using the DTCC LIBOR Replacement Index Communication
Tool to Support the Transition Away from USD LIBOR – webcast and
presentation slides
Alternative Reference Rates Committee, 24 May
2023
Focusing on how market participants can leverage the DTCC LIBOR
Replacement Index Communication Tool to disseminate rate and
conforming change information about chosen alternative reference
rates for securities with CUSIPS that are transitioning away from
LIBOR.
To view the full article, click here.
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 2023. 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.
