Legacy: Difference between revisions
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:<span style="color:#4B0082">'''''Legacy LIBOR contracts'''''</span> | :<span style="color:#4B0082">'''''Legacy LIBOR contracts'''''</span> | ||
:"Legacy contracts are those that do not mature until after the | :"Legacy contracts are those [incorporating LIBOR] that do not mature until after the [cessation of LIBOR] | ||
:Depending on the financial product under consideration (loan, derivative etc), the precise response to the disappearance of LIBOR will vary." | :Depending on the financial product under consideration (loan, derivative etc), the precise response to the disappearance of LIBOR will vary." | ||
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[[Category:Financial_products_and_markets]] | [[Category:Financial_products_and_markets]] | ||
Revision as of 18:27, 11 March 2024
'Legacy' refers to older systems, contracts or other arrangements, implemented before current systems, regulations or other market conditions, but still having a remaining life until their retirement or final maturity.
- Legacy RTGS systems
- "TARGET2 is run by the Eurosystem under the responsibility of the Governing Council of the ECB.
- The NCBs of France, Germany and Italy jointly provide the single technical infrastructure and operate it on behalf of the Eurosystem.
- All of the eurozone countries have migrated to TARGET2 and have chosen to close their legacy RTGS systems upon migration."
- The Treasurer's Handbook, Payments and payment systems.
- Legacy LIBOR contracts
- "Legacy contracts are those [incorporating LIBOR] that do not mature until after the [cessation of LIBOR]
- Depending on the financial product under consideration (loan, derivative etc), the precise response to the disappearance of LIBOR will vary."
- ACT Briefing Note, Transition to risk free rate benchmarks.
