This week in review Tess Virmani explains why the ARRC published Abridged Hardwired Fallback Language... and why it makes your life so much easier, Meredith Coffey reports that the ARRC has privately (and now publicly) tamped down Term SOFR hopes - and explains what it means for loans and CLOs and Tess Virmani hails the NYS LIBOR Legislation, but warns it's not a loan or CLO panacea.