ISDA reopens divided pre-cessation consultation after regulator clarity

By Ross Lancaster
06 Feb 2020

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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