Events listed in Benchmark Rate Reform
Article 23B Benchmarks Regulation – Notice Specifying the Effective Date of the ...
ID 23498
Concurrently with the publication of its Feedback Statement as regards the continuous use of several synthetic LIBOR tenors (please see EventID 21327 in this context for more information), the Financial Conduct Authority (FCA) has published a Notice as regards the prohibition of the use of the 1-month, 3-month, and 6-month US Dollar LIBOR tenors beyond June 30, 2023. In this notice, the FCA simply ...
FS23/2: Decisions on US dollar LIBOR – feedback to CP22/21
ID 23485
The Financial Conduct Authority (FCA) has published a Feedback Statement (FS23/2 concerning its Consultation (CP22/21) in connection with the extension of certain LIBOR tenors in synthetic form. Specifically, in November 2022, the FCA sought feedback on its proposal to 1. continue to publish the 1-, 3-, and 6-month US dollar LIBOR tenors up to September 30, 2024 on a synthetic basis; 2. extend the ...
US dollar LIBOR panel – 1 month to go
ID 23481
With less than one month to go before the final LIBOR tenors cease to exist, the Financial Conduct Authority (FCA) has published a final statement in this matter. In the publication, the FCA reminds of the fact that ALL remaining LIBOR panels will come to an end on June 30, 2023. Although the regulator has commissioned the benchmark administrator, ICE Benchmark Administration (IBA), to ...
SR 23-2 / CA 23-3
ID 22979
In view of the upcoming termination of the remaining U.S. Dollar (USD) LIBOR tenors, various U.S. banking regulators or supervisory agencies, including the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Company (FDIC), the Board of Governors of the Federal Reserve System (FED), the National Credit Union Administration (NCUA), and the Consumer Financial Protection Bureau (CFPB), have issued a [Joint ...
Reform of interest rate benchmarks (PDF File, 113.4 KB)
ID 22780
The Hong Kong Monetary Authority (HKMA) has issued a circular as regards the termination of the remaining US dollar LIBOR tenors. Therein, the regulator basically reminds institutions of such termination, which includes the cessation of the 1-month, 3-month, and 6-month tenors, and asks them to distribute the enclosed flyer to their corporate customers. The flyer sets out – the final termination date of the ...
The USD LIBOR panel ceases at end-June 2023: Are you ready?
ID 22739
The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have each published a joint press statement relating to the transition away from the London InterBank Offered Rate (LIBOR) to alternative, risk-free reference rates (ARRs) such as the Sterling Overnight Index Average (SONIA). Therein, both regulators remind of the fact that there are less than 90 days left until the final US dollar ...
Article 21(3) Benchmarks Regulation – Notice of First Decision [pdf]
ID 22658
Following its decision to continue the publication of the 1-, 3- and 6-month US dollar LIBOR settings on a synthetic basis beyond June 30, 2023 (please see EventID #20544 for more information) and its decision to permit the continuous use of these LIBOR tenors in specified legacy contracts up to September 30, 2024 (please see EventID 20587), the Financial Conduct Authority has published a ...
Article 23D Benchmarks Regulation – Draft Notice of Requirements [pdf]
ID 22655
Following its decision to continue the publication of the 1-, 3- and 6-month US dollar LIBOR settings on a synthetic basis beyond June 30, 2023 (please see EventID #20544 for more information) and its decision to permit the continuous use of these LIBOR tenors in specified legacy contracts up to September 30, 2024 (please see EventID 20587), the Financial Conduct Authority has published another ...
Article 23a Benchmarks Regulation – Notice of Designation [pdf]
ID 22652
Following its decision to continue the publication of the 1-, 3- and 6-month US dollar LIBOR settings on a synthetic basis beyond June 30, 2023 (please see EventID 20544 for more information), the Financial Conduct Authority (FCA) has designated these LIBOR tenors as critical benchmarks pursuant to article 23A of the Retained Benchmark Regulation (UK BMR). This step is necessary so that the FCA ...
FCA announces decision on synthetic US dollar LIBOR
ID 22643
Following a corresponding consultation (CP22/11) in June 2022, the Financial Conduct Authority (FCA) has now announced a final decision as regards the publication of the 1-, 3- and 6-month US dollar LIBOR on a synthetic basis beyond June 30, 2023. Based on the feedback it has received, the FCA states that it has decided to require such publication up to September 30, 2024. Thereafter, ...