Market Updates on the LIBOR Transition

  • On derivatives product, progress has been made in LIBOR transition with the implementation of ISDA 2020 IBOR Fallbacks Protocol which took effect on Jan.25, 2021
  • The other milestone also took place on the same day when CME provided details on methodology for transitioning Eurodollar futures and option contracts. CME aligns with ISDA in its Eurodollar futures and options fallback language
  • On cash products, the ARRC has recommended fallback language for floating-rate notes, bilateral business loans, syndicated loans, and saucerization products for market participants’ coluntary use