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A Canadian energy company's issue tied to SOFR saw significant demand on Tuesday.
It's an "important day," as ISDA issues fallback measure for swaps and other derivatives still tied to the benchmark.
New York governor's state budget, published this week, includes provisions to help troublesome LIBOR-linked contracts switch to replacement rates.
Bank defendants argue that sudden elimination of the benchmark would be 'a catastrophe.'
The U.S., U.K., and New Zealand no longer look likely to follow the Eurozone and Japan into negative-rate territory.
The delay in LIBOR retirement just puts off the inevitable; lawmakers need to clarify what benchmarks will replace LIBOR in financial contracts whenever it finally ceases to be used.
ICE plans to extend the transition away from dollar LIBOR till mid-2023, but regulators are still encouraging banks to move ASAP.
3 key questions corporate treasury teams should be asking in today's volatile market.
Survey indicates that Covid-19 hasn't significantly slowed the transition to a new interest rate benchmark.
The FFCB is exchanging dollar-denominated, floating-rate securities tied to LIBOR for SOFR notes, in anticipation of the end of LIBOR next year.