690 results for
  • FSB: LIBOR

    28/07/2023
    FSB has published a statement on the LIBOR transition which sets out messages for market participants in the post-LIBOR transition landscape.

    FSB has published a statement on the LIBOR transition which sets out messages for market participants in the post-LIBOR transition landscape.

    Support Information:
    https://www.fsb.org/2023/07/final-reflections-on-the-libor-transition/
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  • FCA: USD LIBOR

    03/07/2023
    FCA notes that the US dollar LIBOR bank panel ended on 30 June 2023.  The overnight and 12-month US dollar LIBOR settings have now permanently ceased.  The 1-, 3- and 6-month US dollar LIBOR...

    FCA notes that the US dollar LIBOR bank panel ended on 30 June 2023.  The overnight and 12-month US dollar LIBOR settings have now permanently ceased.  The 1-, 3- and 6-month US dollar LIBOR settings have been designated as Article 23A benchmarks FCA is requiring LIBOR’s administrator, ICE Benchmark Administration, to publish them in synthetic form.  From 3 July 2023, they will be calculated using a synthetic methodology based on the relevant CME Term SOFR Reference Rate plus the respective ISDA fixed spread adjustment. However, as with other synthetic LIBOR rates, these settings are now permanently unrepresentative of the underlying markets they previously sought to measure. They are intended to cease at the end-September 2024.  FCA has published Notices finalising implementation of its decisions which are available to download individually via the following link.

    Support Information:
    https://www.fca.org.uk/news/news-stories/us-dollar-libor-panel-has-now-ceased
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  • FCA: FS23/2: Decisions on US dollar LIBOR

    31/05/2023
    Further to CP22/21, FCA has now published feedback and sets out details of the actions market participants must take before 30 June 2023 deadline.  In addition, FCA has published two technical notices...

    Further to CP22/21, FCA has now published feedback and sets out details of the actions market participants must take before 30 June 2023 deadline.  In addition, FCA has published two technical notices under the UK Benchmarks Regulation (Article 23B and Annex 4 Notices) as part of the implementation of its decisions. Further technical publications shortly after midnight on 1 July 2023 will complete the implementation.  Documents may be accessed via the following link.

    Support Information:
    https://www.fca.org.uk/news/news-stories/us-dollar-libor-panel-1-month-go
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  • ESMA: Benchmarks Regulation review

    30/05/2023
    ESMA has published its final report on the review of the regulatory technical standards concerning information to be provided in an application for authorisation and registration under the Benchmarks Regulation.

    ESMA has published its final report on the review of the regulatory technical standards concerning information to be provided in an application for authorisation and registration under the Benchmarks Regulation.

    Support Information:
    https://www.esma.europa.eu/sites/default/files/2023-05/ESMA81-393-644_Final_Report_on_review_of_RTS_on_authorisation_and_registration.pdf
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  • FCA: Speech by Sarah Pritchard: Meeting the challenge in our changing global markets

    16/05/2023
    Text of Sarah Pritchard’s speech of 16 May 2023 follows.  Topics include: FCA’s work on listings; FCA’s approach to prospectus reform; LIBOR.

    Text of Sarah Pritchard’s speech of 16 May 2023 follows.  Topics include: FCA’s work on listings; FCA’s approach to prospectus reform; LIBOR.

    Support Information:
    https://www.fca.org.uk/news/speeches/meeting-challenge-our-changing-global-markets
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  • ESMA: Guidance on EURIBOR Fallbacks for corporate lending products

    04/05/2023
    ESMA has published guidance for corporate lending products for implementing the recommendations on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates.

    ESMA has published guidance for corporate lending products for implementing the recommendations on EURIBOR fallback trigger events and €STR-based EURIBOR fallback rates.

    Support Information:
    https://www.esma.europa.eu/sites/default/files/2023-05/EUR_RFR_WG_Guidance_for_Corporate_Lending_Products.pdf
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  • FSB: USD LIBOR transition

    27/04/2023
    FSB’s statement has been published in order to encourage final preparations for the USD LIBOR transition.

    FSB’s statement has been published in order to encourage final preparations for the USD LIBOR transition.

    Support Information:
    https://www.fsb.org/2023/04/fsb-statement-to-encourage-final-preparations-for-the-usd-libor-transition/
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  • BoE/FCA: The USD LIBOR panel ceases at end-June 2023 – are you ready?

    12/04/2023
    In this press release, BoE, FCA and the Working Group on Sterling Risk-Free Reference Rates encourage market participants to: actively transition USD LIBOR contracts ahead of the cessation of the USD LIBOR...

    In this press release, BoE, FCA and the Working Group on Sterling Risk-Free Reference Rates encourage market participants to: actively transition USD LIBOR contracts ahead of the cessation of the USD LIBOR panel at end-June 2023; ensure readiness for implementation of USD LIBOR fallbacks, including planned CCP conversion events and operationalisation of the ISDA 2020 IBOR Fallbacks Protocol; ensure they transition to the most robust RFRs; and, continue to actively transition any remaining legacy contracts from synthetic GBP LIBOR to SONIA.

    Support Information:
    https://www.bankofengland.co.uk/news/2023/april/usd-libor-panel-ceases-end-june-2023-are-you-ready
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  • BoE: Minutes of the SONIA Stakeholder Advisory Group

    05/04/2023
    The BoE has published minutes from this meeting held on 15 March 2023.

    The BoE has published minutes from this meeting held on 15 March 2023.

    Support Information:
    Link 1
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  • ESMA: New Q&As

    31/03/2023
    ESMA has updated the following Questions and Answers: Benchmarks Regulation, EMIR implementation, DLT Pilot Regulation, MiFID II and MiFIR transparency topics, MiFIR data reporting, SFTR data reporting.

    ESMA has updated the following Questions and Answers: Benchmarks Regulation, EMIR implementation, DLT Pilot Regulation, MiFID II and MiFIR transparency topics, MiFIR data reporting, SFTR data reporting.

    Support Information:
    Link 1
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