Authors: Christian Storck, Jörg Fried, Marc Voelcker, Julia Anna Bhatti

IBOR Supplemental Agreement to the German Master Agreement for Financial Derivatives Transactions

The Supplemental Agreement for IBOR Fallback Provisions (Zusatzvereinbarung für IBOR-Nachfolgeregelungen (IBOR-Zusatzvereinbarung); “IBOR Supplemental Agreement”) to the German Master Agreement for Financial Derivatives Transactions (DRV) was published today by the Association of German Banks (Bundesverband deutscher Banken; “BdB”). The IBOR Supplemental Agreement contains fallback provisions for derivatives transactions which reference certain inter-bank offered rates (“IBORs”). It applies to legacy transactions as well as new transactions.