In June, the Alternative Reference Rates Committee (“ARRC”) – a group set up to develop potential new interest rate benchmarks – announced that a broad Treasuries repo financing rate was selected as the new preferred alternative reference rate for LIBOR. Following that announcement, Reuters and Business Insider reported that the new benchmark could replace LIBOR. And, following that was a flurry of calls to the LSTA asking whether LIBOR is going away.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.