Half of UK RMBS notes may become fixed rate after Libor

FCA2_Alamy_230x150
By Tom Brown
29 Sep 2020

Half of Moody’s rated UK RMBS are set to convert to fixed rate note payments without further guidance on Libor cessation from the Financial Conduct Authority (FCA).

The securities are linked to Libor without sufficient fallback language, with the last available Libor date serving as a conversion point for the deals to reference and convert to fixed-rate payments at the cut-off date at the end of 2021.

Association for Financial Markets in Europe (Afme) fallback ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial