Legislation for 'tough legacy' LIBOR contracts
As the cessation, or loss of representativeness, of
each of the 35 LIBOR settings gets ever closer,
legislation has now been introduced in each of New
York State, the European Union and the United
Kingdom, aimed at addressing contractual uncertainty
arising in respect of the demise of panel bank LIBOR.
In this briefing we provide an overview of the status
and scope of each of these legislative solutions.