Fallback: Difference between revisions
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Revision as of 09:47, 27 May 2021
1. Interest rates - reference rates.
A 'fallback' is a specified alternative reference interest rate, for use in the event that the originally envisaged reference rate is unavailable.
"Whilst fallbacks are contained in existing documentation should a reference rate become (temporarily) unavailable, these were not drafted as a long-term solution [to the permanent retirement of LIBOR]."
ACT Briefing Note, Transition to risk free rate benchmarks.
2.
Similar arrangements in other contexts.
See also
- Alternate Base Rate
- Benchmark
- Legacy
- LIBOR
- Reference rate
- Risk-free rates
- Waterfall
- Waterfall methodology
Other links
A World without Libor - FCA speech - July 2018
The future of LIBOR: what you need to know, ACT & LMA, March 2018
