A webinar is planned May 24 about how banks and other market participants can tell their customers about how the elimination of the LIBOR reference rate at the end of the June will affect their […]
Regulation Z, implementing the Truth in Lending Act (TILA), would be conformed with legislation enacted last year to complete the transition away from a now-defunct interest rate reference tool under an interim final rule unveiled […]
A Federal Reserve-developed alternative to a now-defunct (and soon to be eliminated) interest rate standard has become the dominant benchmark in the market, according to the group that developed the alternative. The Alternative Reference Rates […]
Some improvement has been made in the remediation of leveraged loans as the deadline for termination of a widely used reference rate looms – but more progress is needed, a group that established an alternative […]
A final rule from December identifying benchmark rates based on the Secured Overnight Financing Rate (SOFR) that will replace LIBOR (formerly known as the London Interbank Offered Rate) in certain financial contracts after June 30, […]
The expiration date for guidance on dealing with the demise of a now-defunct reference rate has been extended, to Dec. 31, 2024, by the accounting profession, according to a statement issued Wednesday. The Financial Accounting […]
Identifying benchmark rates based on the Secured Overnight Financing Rate (SOFR) that will replace LIBOR (formerly known as the London Interbank Offered Rate) in certain financial contracts after June 30, 2023 is the aim of […]
Progress in the transition away from a now-defunct reference rate is “encouraging,” but “timely action” is still needed by banks before use of the rate is cut off completely by next summer, a Federal Reserve-sponsored […]
Steps underway now and plans going forward to move to new rates or to update fallback language in a reference rate that goes out of existence next summer are the subject of a survey being […]
Default rules for certain contracts that use a soon-to-be defunct interest rate reference rate would be provided under a proposal released Tuesday by the Federal Reserve. The agency said its proposal on the London Interbank […]
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