Update on LIBOR Transition

Last week, ISDA announced its IBOR Fallbacks Protocol (“Protocol”) and updates to the 2006 ISDA Definitions through the IBOR Fallbacks Supplement (“Supplement”) to include robust LIBOR fallback language in anticipation of LIBOR discontinuance expected at the end of 2021.

Throughout this piece, we answer various questions that are relevant for financial institutions as they consider their own LIBOR Transition plans for derivatives as well as the lending book.

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