ISDA Benchmark fall backs consultations

ISDA recently launched two market consultations - the first was on fallbacks for USD LIBOR, CDOR, HIBOR and certain aspects of fallbacks for derivatives referencing SOR and the second addressed “pre-cessation triggers”.

Market participants will now have to comment on how the fallback to a risk free rate should be adapted where an IBOR in the currencies mentioned above falls away. They have been through this process already for GBP LIBOR and CHF LIBOR, amongst other currencies.

In this webinar, alongside Ann Battle of ISDA, David Bowman of the US Federal Reserve Board and Edwin Schooling Latter of the UK Financial Conduct Authority, Deepak Sitlani, UK Head of Derivatives at Linklaters, discuss the two consultations.