ISDA reopens divided pre-cessation consultation after regulator clarity
The International Swaps and Derivatives Association this week said it will make another attempt to finally find industry consensus on a solution to fallback issues in the Libor transition.
ISDA polled market participants late last year on how to address pre-cessation fallbacks that would kick into contracts referencing interbank offered rates when those underlyings ceased to function properly.That survey failed to find a consensus. No clear agreement was reached on what form a trigger would take, ...
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