LIBOR Trade Association Working Group – Publication of minutes
Since
Andrew Bailey's speech of July 2018, trade associations representing different
product areas across the global financial markets have been in regular
communication to discuss the key issues involved in the transition away from
LIBOR to risk-free rates and to update each other on developments in relation
to the transition. To raise awareness of this global and cross-product
communication, minutes of the meetings of this joint group will be published
going forward.
US consultation on LIBOR fallbacks
The US Alternative Reference Rates Committee (ARRC) has issued a consultation on draft fallback language for syndicated business loans that reference USD LIBOR, which closes on 26 November.
The ARRC will issue final contract language recommendations for voluntary use by market participants following the consultations. Members are encouraged to respond to this consultation. Click here to view.
Recent LMA Submissions
LMA has responded to a BEIS consultation relating to the National Security and Investment White Paper
LMA writes to HM Treasury in advance of UK transposition of MLD 5
LMA responds to Working Group on Sterling Risk-Free Reference consultation on Term SONIA Reference
LMA launches Green Loan Principles (GLP)
The GLP have been developed by an experienced working party, consisting of representatives from leading financial institutions active in the green loan market, with a view to promoting the development and integrity of the green loan product.
Recent LMA Documentation
LMA announces publication of new Schuldschein Loan Agreements and User Guide
LMA produces a Mezzanine mark-up of a Senior Facility Agreement for use on REF investment transactions
LMA publishes updated version of revised Replacement of Screen Rate clause, which is now publicly available on the Bank of England website
LMA Updates Secondary Documents to Account For The Revocation of The ERISA Fiduciary Rule
New Schuldscheindarlehen E-learning Module
This new stand-alone module provides an overview of the Schuldscheindarlehen product, the parties involved and the timeline to market. We hope that this module will help educate those less familiar with the product about its key features and characteristics.
