Effective December 1, 2021, the Loan Syndication and Trading Association (LSTA) has issued a revised suite of loan trading documents modified to replace LIBOR (London Interbank Offered Rate) with SOFR ...

LIBOR has been a key interest rate benchmark for many decades, used as the principal reference rate to several hundred trillions of dollars in derivatives, bonds, loans and securitizations. However, ...

LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...

Michael C. Miller, a partner at Steptoe & Johnson, and Lara Romansic, of counsel at the firm, discuss rescission, which may be a potential solution to the determination of damages caused by LIBOR ...

It’s time to stop “postponement syndrome” over the expiration of the London interbank offered rate. There can be no more stalling. In March, Federal Reserve Vice Chair for Supervision Randal Quarles ...

The London Interbank Offer Rate, commonly known as Libor, has been called "the world's most important number." It is the basis for calculating interest rates on everything from mortgages to student ...

REUTERS - The Federal Reserve Bank of New York may have known as early as August 2007 that the setting of global benchmark interest rates was flawed. Following an inquiry with British banking group ...

The recent onslaught of LIBOR litigation raises two important issues for potential plaintiffs considering individual lawsuits outside the existing class actions. The first relates to remedy. The ...