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
Thankful for Increasing Clarity on
LIBOR's Final Fate
Eye on IBOR blog post, 25 November 2022
On 23 November 2022 the Financial Conduct Authority published Consultation Paper CP22/21: Consultation on
'synthetic' US dollar LIBOR and feedback to CP22/11, in
which it (a) proposed to require continued publication, under an
unrepresentative "synthetic" methodology, of 1-, 3-, and
6-month USD LIBOR until the end of September 2024 and (b) announced
that 3-month synthetic GBP LIBOR will continue to be published
until the end of March 2024, after which each will cease
permanently. Comments are requested on or prior to 6 January
2023.
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 – Syndicated and Bilateral Loans
Introducing the SOFR Cost of Carry
Calculator
Loan Syndications & Trading Association, 26 October
2022
The LSTA's calculator is programmed to compute the Cost of
Carry Rate, using the average of the individual daily SOFRs during
the delay period, for use in loan trades.
Spotlight on LIBOR Remediation
Tools
Loan Syndications & Trading Association, 18 October
2022
Reminding the market of, and summarizing, the set of forms prepared
by the LSTA of amendments designed for different remediation
scenarios using Term SOFR and Daily Simple SOFR.
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