Regulatory Alerts2020-10-08
Added · Updated
SR 20-22: ISDA IBOR Fallback Protocol and IBOR Fallback Supplement
The Federal Reserve issued supervisory guidance urging institutions supervised by the Board to consider adhering to the ISDA IBOR Fallback Protocol to manage risks associated with the discontinuation of LIBOR after 2021. Examiners are directed to alert supervised firms, particularly those with significant LIBOR-denominated derivatives exposures, to the Protocol as an efficient mechanism for amending contract fallbacks to preserve financial stability. The guidance emphasizes that broad market adherence is critical to mitigating systemic risks and ensuring the continued functioning of derivatives markets during the transition away from LIBOR.
More like this from FRB
FRB published 3 documents in the last 30 days. We email you each new one the day it's published.