Precise Timing of LIBOR Endgame Published

Today is all about the announcements of the regulators the precise timing of LIBOR cessation and the calculation and determination of the ISDA spread. The ARRC commended today the announcements by several regulators regarding the precise timing of LIBOR cessation. This happened at the same day the actual announcements were done.

FCA Confirms LIBOR Deadline

FCA has officially announced that panel bank submissions for all LIBOR settings will cease by Dec. 31, 2021 in case of all sterling, Euro, Swiss franc, and Japanese yen settings, and the 1-week and 2-month US dollar settings; and by Jun. 30, 2023 in case of the remaining US dollar settings ISDA has confirmed separately […]

ISDA Cessation Guidance

The spread adjustment for IBOR fallback for the following settings will be fixed on Mar. 5, 2021: CHF LIBOR, EUR LIBOR, GBP LIBOR, JPY LIBOR, and USD LIBOR Potential publication date for non-representative, synthetic LIBOR for 1-, 3-, and 6-Month GBP LIBOR and JPY LIBOR is Jan. 1, 2022 onward, for USD LIBOR of the […]

ICE Finalize LIBOR Cessation Plan

As in compliance with the announcement made by FCA regarding the cessation of LIBOR settings after Dec. 31, 2021 and, for the Overnight and 1-, 3-, 6- and 12-Month USD LIBOR, after Jun. 30, 2023, ICE Benchmark Administration Limited (IBA) considered that it would be unable to publish LIBOR settings after those dates because of […]

Bank of Japan Responds to LIBOR End Date

The use of synthetic Yen LIBOR will be restricted to tough legacy contracts and it will only be available for one year. Synthetic LIBOR should be considered as a potential “safety net”. Relevant parties should understand it is impossible to precisely replicate the value of the ordinary LIBOR with synthetic LIBOR Bank of Japan will […]

NatWest to Quit LIBOR Panel

National Westminster Bank (NatWest), a major retail and commercial bank in the United Kingdom, will withdraw from the panel that sets USD LIBOR. NatWest has agreed to submit quotes for LIBOR until the end of 2021, after which point the banks will be free to stop.