Dollar Libor fallbacks for securitization coming next week

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.

  • By Alexander Saeedy
  • 21 May 2019

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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1 Citi 4,347 16 16.63
2 BNP Paribas 2,866 11 10.96
3 Morgan Stanley 2,420 6 9.26
4 Goldman Sachs 2,276 6 8.71
5 Bank of America Merrill Lynch (BAML) 2,086 9 7.98

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3 Bank of America Merrill Lynch 40,321.46 131 7.53%
4 Wells Fargo Securities 39,996.15 117 7.47%
5 Credit Suisse 37,249.85 118 6.95%