ISDA recently closed it second consultation on technical changes to fallback rates and is working on finalising and implementing the proposals . An analysis of the feedback and further questions soliciting feedback on open issues will be published in the coming months . By year end , the trade association expects to complete work on amendments to its definitions of nine IBORs that have been subject to consultation so far . It said it would develop a protocol to enable firms to adapt legacy insurance contracts . Click on the PDF below to read the full version of IQ. A consultation on adjustments to the fallback for euro LIBOR and EURIBOR will take place after ESTR is published in October . While trading volumes in products linked to RFR are picking up as progress is made developing liquid alternative to IBORs , ISDA said much uncertainty remains . It warned that adjusted fallbacks would not precisely match the relevant legislation , resulting in winners and losers in the event that the fallback is triggered , and added that many would likely favour the route of adopting RFRs voluntarily ahead of the expiry of an IBOR . Relevant articles : ISDA Quarterly ~ ISDA ~ 3-Aug-19
ISDA recently closed it second consultation on technical changes to fallback rates and is working on finalising and implementing the proposals . An analysis of the feedback and further questions soliciting feedback on open issues will be published in the coming months . By year end , the trade association expects to complete work on amendments to its definitions of nine IBORs that have been subject to consultation so far . It said it would develop a protocol to enable firms to adapt legacy insurance contracts . A consultation on adjustments to the fallback for euro LIBOR and EURIBOR will take place after ESTR is published in October . While trading volumes in products linked to RFR are picking up as progress is made developing liquid alternative to IBORs , ISDA said much uncertainty remains . It warned that adjusted fallbacks would not precisely match the relevant legislation , resulting in winners and losers in the event that the fallback is triggered , and added that many would likely favour the route of adopting RFRs voluntarily ahead of the expiry of an IBOR . Relevant articles : ISDA Quarterly ~ ISDA ~ 3-Aug-19