In its 2021 Annual Report, the Financial Stability Oversight Council assessed the state of the financial system and provided recommendations concerning climate-related financial risk, digital asset risk, the orderly transition away from LIBOR, and cybersecurity.
News & Insights
The Alternative Reference Rates Committee urged market participants to "proactively slow" the use of U.S. dollar LIBOR "to promote a smooth end to new LIBOR contracts by the end of the year."
In a report called the "Global Transition Roadmap," the Financial Stability Board laid out USD LIBOR transition timelines for market participants with exposure to LIBOR cessation risk.
In a newly released paper, the Alternative Reference Rates Committee focused on internal systems and processes for market participants transitioning to the Secured Overnight Financing Rate.
ISDA highlighted separate economic analyses on: (i) trends in the credit default swaps market, (ii) clearing networks and central counterparties stress testing, and (iii) the cost effects of clearing fragmentation.