Isda to poll Libor users on pre-cessation triggers, again
Trade body seeks clarity on zombie lifespan and CCP response as it bows to regulatory pressure
Derivatives users will be asked to vote again on whether swaps can be moved to alternative risk-free rates (RFRs) before Libor’s inevitable demise after an initial poll on the matter failed to satisfy regulators.
A May 2019 consultation on so-called ‘pre-cessation’ triggers in swap fallbacks failed to produce a consensus on flipping contracts to overnight rates if Libor is deemed unrepresentative
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