The South African Reserve Bank’s Market Practitioners Group (MPG) legal workstream (which oversees legal matters related to the switch from JIBAR to ZARONIA) is holding their second Legal Industry Webinar on the transition to ZARONIA. The LMA will be speaking on the webinar alongside ICMA and senior members of the MPG. Details are below and we look forward to engaging with members and non-members on the webinar.   

Details:

Tuesday, 10 September 2024

10:00-12:00 (09:00 - 11:00 London time)

Click here to view a copy of the invitation brochure and here to register for the webinar.

We are pleased to have published a joint open letter with the APLMA urging loan market participants to take all necessary steps to complete USD LIBOR transition. The FCA has made clear that the remaining tenors of USD synthetic LIBOR will be discontinued by end-September. 

We urge all loan market stakeholders to pass this message on to ensure no-one is left unprepared. The LMA and APLMA are on hand to support the market through this critical period, so please contact us with any specific issues or concerns.

Click Read more to access the full open letter.

On 28 June 2024, the FCA published a reminder of the expected cessation of the remaining synthetic US dollar LIBOR settings (the 1-, 3- and 6-month settings) at the end of September 2024.

The FCA urged market participants with outstanding US dollar LIBOR exposures to ensure they are prepared for these remaining LIBOR settings to cease by the expected deadline. The cessation of these remaining settings will be the last milestone in the transition away from LIBOR, marking the end of LIBOR overall.