The Alternative Reference Rates Committee (ARRC) is set to release fallback language next week that would prescribe how Libor-linked securitizations would adopt an alternative benchmark in the absence of the traditional inter-bank rate. Fallback language is designed for market participants who want to continue using Libor in new contracts but can have a legally prescribed mandate if Libor ceases to be quoted after 2021. Fallbacks for floating rate notes and syndicated loans were published in April. Lary Stromfeld, a partner ...
ARRC is expected to release fallback language for addressing LIBOR - linked privacy issues next year , according to a panel of experts at IMN ’s mac Loan and CLO labs in New York .