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.

Click Read more to take part in our survey on the LMA’s RFR documentation suite. The results of the survey will help us in our ongoing process of reviewing and consolidating our documentation suite. 

The survey consists of 12 questions and requests your views on various RFR related documentation topics including EURIBOR fallbacks, alternative term rates, term SOFR fallbacks, baseline CAS and the most often used interest rate drafting. The survey should take no more than ten minutes to complete and should be completed in one go.

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.