Libor
ARRC replacement aims to dodge rates ruckus
Fed’s new reference rate committee wants to avoid reigniting battles about term and credit-sensitive rates
FCA to expand UK footprint as part of new strategy
Regulator’s priorities will include climate risk disclosures and financial sector diversity
FCA warns against use of ‘credit-sensitive’ rates in place of Libor
Banks should tell the FCA if they plan to use such rates and consider the risks “carefully”
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
BoE to consult on Sonia clearing mandate
Long-dated Sonia swaps set to lose clearing exemption as liquidity shifts from Libor
UK regulators fix end date for Libor
Most Libor settings will cease at the end of 2021 as Bailey tells firms to finish their transitions
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
Sterling swap traders brace for new Sonia switch deadline
Covid delays force regulators to set new date for interdealer swap market to price off RFR
MAS ‘front-loads’ interest rate benchmark reform effort
Central bank says not transitioning to new Sora rate will expose banking sector to increased risk
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
FSB and BCBS survey finds ‘major’ challenges remain in Libor transition
Report highlights data gaps, issues with developing new products, and problem of “tough legacy” contracts
FCA to gain new powers to tackle ‘tough legacy’ issues in Libor transition
Untangling complex legacy issues is looking increasingly difficult as delays mount due to Covid-19
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how the BoE tackled the Covid-19 crisis in the markets
Fed expands main street lending plans
Central bank faces criticism for appearing to respond to oil and gas lobbying
BoE to impose Libor-linked collateral penalties
Andrew Hauser says regulators will employ carrots and sticks as deadline for transition looms
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