Our Financial Services & Products Group discusses the status of the financial industry’s transition away from LIBOR, including the final rule identifying replacement benchmarks that was recently ...

The Federal Reserve Board adopted a rule that will officially set the Secured Overnight Financing Rate (SOFR) as the fallback benchmark rate in financial contracts that reference the expiring London ...

On December 16, 2022, the Federal Reserve Board adopted the final rule (the “Final Rule”) 1 implementing the Adjustable Interest Rate (LIBOR) Act (the “Libor Act”), which establishes benchmark ...

Any reference to a specified source for USD LIBOR shall be replaced with the publication of the applicable Board-selected benchmark replacement (inclusive of the applicable tenor spread adjustment) by ...

Citi, as the determining person for each Legacy LIBOR Instrument listed on Annex 2, has determined that the Board-selected benchmark replacement will be the replacement for USD LIBOR in each such ...

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Market participants will be able to access the solution through DTCC’s ...

MEMPHIS, Tenn., April 25, 2023 /PRNewswire/ -- First Horizon Corporation (FHN) (NYSE: FHN or "First Horizon") today announced that, after June 30, 2023, US dollar LIBOR will be replaced with CME Term ...

Citi is issuing this press release to provide notice that, after the Cessation Date, the relevant USD LIBOR rate in each Legacy LIBOR Instrument is planned to be replaced with the CME Term SOFR ...