Legislative fix for dollar Libor not a failsafe option

Among the myriad dilemmas tied to managing Libor exposures and the development of Sofr markets, one potential remedy has steadily gained more attention: leave it to the government to fix the problem.

  • By Alexander Saeedy
  • 19 Mar 2019

The Alternative Reference Rates Committee (ARRC) is considering requesting a backstop from the New York State legislature for all Libor-referencing debt, which does not specify what spread should be paid if Libor no longer exists.

Without clear fallback language written into a contract, an issuer could potentially withhold ...

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