This month’s DL Report provides a short and sweet cheat-sheet concerning LIBOR’s sunset in December 2021. We’ll conduct a quick overview of what’s happening, what it means for borrowers, lenders and legal counsel, and what each should be doing now to prepare. First off, a quick review. Since the mid-1980’s, the London Interbank Offered Rate, […]
Freaked out by the recent announcement of plans to end the use of the LIBOR index? Given that nearly every large floating-rate loan from a bank, conduit or life company is linked to LIBOR, the announcement by the UK Financial Conduct Authority over the summer has left lenders and borrowers in a quandary to not […]
Financial newswires have been abuzz recently with the formal announcement by a UK regulatory authority last Thursday that LIBOR will be replaced by 2021. While surprising to some, regulators have sought a replacement for LIBOR for some time as past rigging scandals and an overall lack of transactional data to support its use tainted the […]
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