Synthetic LIBOR: Difference between revisions
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imported>Doug Williamson (Create page. Source - FCA - https://www.fca.org.uk/news/statements/fca-consults-proposed-decision-require-synthetic-libor-6-sterling-and-japanese-yen-settings) |
imported>Doug Williamson (Add links.) |
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Proposals for the continued calculation and publication of a limited number of sterling and JPY rates under a changed methodology, after the cessation of the current LIBOR panels at the end of 2021. | Proposals for the continued calculation and publication of a limited number of sterling and JPY rates under a changed methodology, after the cessation of the current LIBOR panels at the end of 2021. | ||
:<span style="color:#4B0082">'''''Key points for corporates from Edward Schooling-Latter's speech (FCA) - synthetic LIBOR'''''</span> | |||
:"While the FCA is also taking steps to provide a time limited safety net to help contracts that can’t be transitioned, this does not remove the need for firms to act. | |||
:Certain, yet to be determined ‘tough legacy’ contracts will be allowed to use a synthetic LIBOR rate based on forward-looking term RFRs, so SONIA for sterling, plus the relevant ISDA spread adjustment." | |||
:''ACT blog - Sarah Boyce - 15 July 2021'' | |||
== See also == | == See also == | ||
* [[Benchmarks Regulation]] | * [[Benchmarks Regulation]] | ||
* [[Financial Conduct Authority]] (FCA) | * [[Financial Conduct Authority]] (FCA) | ||
* [[ | * [[ISDA spread adjustment]] | ||
* [[ | * [[Legacy]] | ||
* [[ | * [[LIBOR]] | ||
* [[ | * [[Risk-free rates]] (RFR) | ||
* [[SOFR]] | * [[SOFR]] | ||
* [[SONIA]] | * [[SONIA]] | ||
* [[Transition risk]] | * [[Transition risk]] | ||
Revision as of 23:27, 17 July 2021
Interest rates - reference rates - LIBOR transition - Financial Conduct Authority.
Proposals for the continued calculation and publication of a limited number of sterling and JPY rates under a changed methodology, after the cessation of the current LIBOR panels at the end of 2021.
- Key points for corporates from Edward Schooling-Latter's speech (FCA) - synthetic LIBOR
- "While the FCA is also taking steps to provide a time limited safety net to help contracts that can’t be transitioned, this does not remove the need for firms to act.
- Certain, yet to be determined ‘tough legacy’ contracts will be allowed to use a synthetic LIBOR rate based on forward-looking term RFRs, so SONIA for sterling, plus the relevant ISDA spread adjustment."
- ACT blog - Sarah Boyce - 15 July 2021
See also
- Benchmarks Regulation
- Financial Conduct Authority (FCA)
- ISDA spread adjustment
- Legacy
- LIBOR
- Risk-free rates (RFR)
- SOFR
- SONIA
- Transition risk
