IBOR Transition Digest – Finance and Banking

Welcome to the latest issue of Mayer Brown’s IBOR Transition
Digest-a periodic compendium of global regulatory and market
developments and insights on the complex issues confronting
financial market participants as they plan to transition from LIBOR
and its variants to replacement benchmark interest rates. As
attention to IBORtransition accelerates and becomes more focused,
it is critical to have access to comprehensive and timely resources
about the market.

For additional resources and an introduction to our global
cross-practice IBOR Transition Task Force, please visit Mayer
Brown’s IBOR Transition portal.

Thought Leadership | 
News and Developments | 
Events

NEWS AND
DEVELOPMENTS

United States –  Syndicated and
Bilateral Loans

SOFR & Sensitivity

Loan Syndications & Trading Association, 10 November
2021

Discussing the latest SOFR sightings, possible coalescence around
conventions, and developments with respect to credit sensitive
rates.

United States – General

Announcement Post-Consultation on
Methodology Enhancement

Bloomberg Index Services Limited, 8 November 2021

The methodology changes proposed in the 7 October 2021 Consultation regarding
transaction-related input data and the BSBY waterfall were
supported generally. SOFR was recommended over OBFR as the final
stage of the waterfall and input received concerning implementation
mechanics will be included when the new methodology is launched on
15 November.

Statement of Chairman Sherrod Brown at the
U.S. Senate Committee on Banking, Housing, and Urban Affairs
hearing on “The LIBOR Transition: Protecting Consumers and
Investors”

U.S. Senate, 2 November 2021

Introducing the “witnesses” that will discuss a
“narrow and consistent solution that protects small
businesses, families with mortgages, and Americans paying off
student loans” pursuant to a bipartisan bill to address legacy
LIBOR-linked financial contracts.

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