Reference rates
ECB caps remuneration rates for eurozone government deposits
New rate to also apply to non-monetary policy deposits, as ECB shrinks balance sheet
Risk management technology: Ion Treasury
The US firm has championed Libor transition services, and supported reserve managers manage positions during the coronavirus shock
Fed vice-chair: Libor will end
Libor use has expanded, but Quarles says Fed is looking for transition plans
Collateral management services: Calypso Technology
The US-headquartered tech company has helped to develop the “new backbone” of the Swiss financial market, offering flexibility, standardisation and automation to the Swiss collateral management process
US Fed facility bought Libor bonds with ‘weak’ fallbacks
Industry figures express surprise over purchases linked to doomed benchmark
New Isda ‘fallbacks’ critical to making Libor transition a ‘non-event’
New protocol and supplement offer a transition away from Libor rates in 2021, despite CFTC saying 2,400 companies still exposed and Fed extending some US libor contracts until mid-2023
Dollar Libor reprieve sparks fallback uncertainty
Popular settings to end in June 2023; market seeks clarity over timing of fallback spread triggers
US banks cede to SOFR lending as credit hopes fade
Critics of risk-free rate say dynamic spread will be too late for transition
HKMA sets new Libor transition milestones for banks
Nearly all banks have transition plans but risks from benchmark reform continue to build up in the banking system, HKMA warns
Bank of Canada to take over calculation of reference rate
New methodology will make Corra more “robust, reliable and representative”, central bank says
UK's FCA dismisses Libor credit component concerns
Regulator bemused by distress raised by US regional banks to Fed
Fed open to more than one Libor replacement – Powell
Lawmaker voices concerns that current replacement rate lacks credit sensitivity
UK regulators set new deadlines for Libor transition
Working group sets out priorities for 2020 as Libor deadline looms
ECB says new eurozone benchmark successfully introduced
Data shows September rate cut fully passed through to new €STR benchmark, ECB says
New York Fed proposes three SOFR averages
Move is “important next step” in encouraging transition from Libor, official says
Hong Kong authorities look at term structure for risk-free rate
New ‘proxy’ Honia could help change discount rate from Hibor to OIS for local swaps
Riksbank may publish several overnight rates from 2020
As in other jurisdictions, new rate would be based on reported transactions from counterparties
NY Fed president sends warning on Libor transition
Firms “sticking their metaphorical heads in the sand” must act now, Williams says
Firms must prepare for reference rate transition – ECB working group
New €STR rate will be recalculated on same day if major errors are detected, report says
Derivatives users split over legacy Libor swaps
CCPs say cleared swaps will move to new rates if Libor is no longer representative of markets
Bank of Canada latest to reform key reference rate
Central bank is set to take over administration of new reference rate next year