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Federal Reserve Vice Chair Randal Quarles has made it clear that banks failing to make the transition away from the benchmark rate could face supervisory consequences.
June 1Treliant - LIBOR
The modifiable templates are a follow-up to a similar notification the organization created in 2019 for lender use.
April 27 - LIBOR
The heads of the Federal Reserve and Treasury are urging passage of legislation that would replace Libor with the Secured Overnight Financing Rate in certain contracts. That would spare banks litigation over trillions of dollars of contracts when Libor expires in 2023.
March 26 - LIBOR
The act, yet to be signed by Gov. Cuomo, aims to resolve the difficult problem of how to fairly compensate floating-rate investors in instruments for which the London interbank offered rate is no longer published.
March 25 -
A PIMCO-sponsored HELOC securitzation, as well as a mortgage-insurance linked transaction, are the latest examples of issuers getting a head start on switching to an expected replacement benchmark for Libor.
March 22 - LIBOR
Progress toward replacement benchmarks, such as the Secured Overnight Financing Rate in the U.S. and the Tokyo Overnight Average Rate in Japan, has been sluggish, and there are hopes Friday’s announcement could accelerate the process.
March 5 -
Public agencies led by the Federal Reserve often stretch the definition of “necessary and proper” to the breaking point when seeking to fulfill public mandates, columnist Chris Whalen argues.
January 5Whalen Global Advisors LLC -
Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.
November 16 - LIBOR
The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.
November 6 -
Four tranches of AAA-rated notes in the $342.2 million JPMorgan Mortgage Trust 2020-8 may utilize a term-SOFR rate should the benchmark improve on the weighted-average coupon of the deal.
October 29