Dollar Libor fallbacks for securitization coming next week

Libor adobe stock 230x150 AS
By Alexander Saeedy
21 May 2019

The Alternative Reference Rates Committee (ARRC) is set to release fallback language next week that would prescribe how Libor-linked securitizations would adopt an alternative benchmark in the absence of the traditional inter-bank rate.

Fallback language is designed for market participants who want to continue using Libor in new contracts but can have a legally prescribed mandate if Libor ceases to be quoted after 2021. Fallbacks for floating rate notes and syndicated loans were published in April.

Lary Stromfeld, a partner ...

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