SIFMA and the Structured Finance Association offered "conceptual" and "granular" comments on the Federal Reserve Board's proposed rule to implement the Adjustable Interest Rate ("LIBOR") Act.
The Alternative Reference Rates Committee published a "LIBOR Legacy Playbook" for transitioning legacy USD LIBOR cash products.
The Alternative Reference Rates Committee issued guidance on the transition away from using USD LIBOR ICE swap rates to alternative reference rates.
In a year-end progress report, the Alternative Reference Rates Committee highlighted positive momentum in the transition away from USD LIBOR.
The Alternative Reference Rates Committee, acting as the "Relevant Recommending Body" under LIBOR legislation enacted in New York and Alabama, officially selected and recommended replacement benchmarks, based on the Secured Overnight Financing Rate, to replace 1-week and 2-month U.S. dollar LIBOR in contracts that are within the scope of these two state statutes.