The LSTA is a member of the Alternative Reference Rates Committee (“ARRC”), the U.S. body charged with the transition from LIBOR to a successor rate. The LSTA also co-chairs the ARRC’s Business Loans Working Group (“BLWG”), which developed LIBOR Fallback Language for Syndicated  Loans, and the BLWG’s Operations Sub-Group. Attached is the FAQ on the LIBOR fallback language for syndicated loans.