This spring, Congress passed the LIBOR Act, which was intended to create a clear and uniform process for touch legacy contracts – those lacking workable LIBOR fallback language – to transition to replacement rates. In July, the Federal Reserve released a proposal to implement the LIBOR Act. While business loans typically have some form of...
This spring, Congress passed the LIBOR Act, which was intended to create a clear and uniform process for touch legacy contracts – those lacking workable LIBOR fallback language – to transition to replacement rates. In July, the Federal Reserve released a proposal to implement the LIBOR Act. While business loans typically have some form of...
Like every industry, Fund Finance evolved extensively this week, and for the first time since the disruption commenced, included a fair bit of misinformation. Attached is a comprehensive update of what we observed and what we forecast for the immediate future. This article is by Michael Mascia, Partner, Fund Finance at Cadwalader....
