Libor
US dollar Libor transition: a new countdown in motion
With almost all Libor settings discontinued at the end of 2021, Philip Whitehurst, head of service development, rates at LCH, addresses what’s ahead for the final US dollar Libor transition to risk-free rates, what has and hasn’t been achieved so far,…
CCPs to review conversion blueprint ahead of SOFR switch
Rising rates vol expected to push US transition to the wire, but process likely to follow previous runs
Japan’s Tibor swap rate faces cessation
Administrator Refinitiv could end benchmark as soon as next week following withdrawal of contributors
Libor’s death propels SOFR swaps market
Trading in the risk-free rate jumped to a weekly high and long-dated swaps activity grew
Euro/dollar crosses embrace RFRs, while other currencies lag
€STR becomes new standard for euro cross-currency swaps; CAD and AUD stick with legacy rates
Looking ahead to the post-Libor landscape
Libor’s days are coming to an end, so what does the future hold? A Risk.net expert panel discusses the original dream of a multi-benchmark world, and whether it is still alive
Smaller US banks make case for credit-sensitive rates
BSBY and Ameribor emerge as preferred Libor successors for some regional lenders in multi-rate approach
Down but not out: US Libor trading continues amid ban
Outgoing rate hits market share lows in US swaps but little dent made in listed markets
Review of 2021: Default, revolt, reform
Archegos, GameStop, the last days of Libor – markets just about coped in a bleak and disorderly year
‘SOFR First’ for Eurodollars downgraded
US dollar Libor transition initiative for listed derivatives comes up short
Europe swap dealers eye London return post-Brexit
Proposed Mifid exemption paves way for BNP Paribas, SocGen and Deutsche to trade swaps on UK venues
Banks plan first yen Libor bond transitions
SG and Crédit Agricole Tona switches expected to be first bonds that ditch outgoing Japanese rate
Libor battles aren’t over, but the war is won
Transition will shift into new phase next year, leaving systemic threats behind
Banks given conflicting guidance on Libor loan facilities
Some banks have been told they can continue to honour uncommitted dollar Libor lines in 2022
Clearing of legacy Libor swaps
Phillip Whitehurst, LCH, discusses the most disruptive aspects of all the conversions of non-US dollar Libor trades that will have happened by the end of the year, how LCH is dealing with legacy swaptions that settle into cleared swaps and how this…
FCA: dealer polls pose further Libor transition hurdle
Schooling Latter warns further work needed to migrate products that require dealer quotes when Libor ceases
CCPs’ successful Libor switch raises hopes for sterling move
Optimism follows hitch-free conversion of cleared yen, Swiss franc and euro Libor swaps to RFRs
Libor Telethon: looking ahead
In this Libor countdown clinic, a panel of experts explores the future landscape in a post-Libor world
Libor Telethon: interviews with Tom Wipf and Elisabeth Kirby
This Libor countdown clinic features interviews with Tom Wipf, vice-chairman of institutional securities at Morgan Stanley and chair of the Alternative Reference Rates Committee, and Elisabeth Kirby, managing director and head of market structure at…
Libor Telethon: leaving Libor behind and clearing legacy Libor swaps
This Libor countdown clinic explores the impacts of moving on from Libor and how to clear legacy Libor swaps, and features an interview with Phillip Whitehurst, head of service development, rates, at LCH
Libor Telethon: interview and Q&A
In this Libor countdown clinic, an interview with Edwin Schooling-Latter, director of markets and wholesale policy at the Financial Conduct Authority is followed by a Q&A with Nicolas Cerrajero, Irina Ursachi and Nicolas Millot from audit, tax and…
Bumpy ride expected as Libor reaches end of road
Heavy reliance on contractual fallbacks leaves market facing series of post-cessation risks
Libor countdown clinic #2
There is still a lot to do ahead of the Libor cessation deadline, and predicting the story’s closing chapter is not easy. This webinar explores what is left to prepare, who’s ahead, what they’ve done and how they’ve done it.
Dealers warm to SOFR swaptions but buy side lags
Rate accounted for nearly half of new notional last week, but operational issues slow end-user uptake