CFTC issues no action relief on Libor as FSB ups pressure
The US Commodity Futures Trading Commission has issued no action relief for market participants’ transition from swaps referencing Libor to alternative reference rates.
On Wednesday, the CFTC said three of its divisions had each issued a no action letter that provides relief to swap dealers and other market participants.The letters outline the conditions under which counterparties will qualify for relief in relation to amending swaps and updating their rates benchmark ...
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