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...
An in-depth discussion of the ARRC hardwired fallback language – what it says, how it works and what it means. Presented by Christian Fundo, Vice President and Assistant General Counsel, J.P. Morgan, Jeffrey Nagle, Partner, Cadwalader, Wickersham & Taft LLP, Tess Virmani, Associate General Counsel & Executive Vice President – Public Policy, LSTA and Ian...
