Irish Association of Corporate Treasurers - Benchmark Reform: ISDA’s IBOR Fallback supplement took effect on January 25th 2021

Home
News
Benchmark Reform: ISDA’s IBOR Fallback supplement took effect on January 25th 2021

Benchmark Reform: ISDA’s IBOR Fallback supplement took effect on January 25th 2021

28 Jan 2021 9:14 AM | Michele Fogarty (Administrator)

With the planned discontinuation of Libor at the end of 2021 fast approaching it is “impossible to overstate the significance of fallbacks” as per the CEO of ISDA Scott O’Malia (Oct 2020).

Many corporates may be exposed to LIBOR at a time that it will be discontinued and to address that risk ISDA has continually highlighted the importance of using alternative Risk Free Rates (“RFRs” for both LIBOR and the other main interbank offered rates “IBORs”.

Earlier this week ISDA IBOR fallbacks took effect. See below the relevant press release and link to the documents explaining these fall back in more details.