6.30.20
This week the Alternative Reference Rates Committee (ARRC) released several key updates related to the transition away from LIBOR. Results of the supplemental consultation on spread adjustments (you can read SFA’s response here) were released with additional details related to its recommended spread adjustment for cash products referencing LIBOR. The ARRC’s release aligns with SFA’s response letter. The ARRC also released updated fallback language for syndicated loans, updated fallback language for private student loans, and updated conventions for SOFR in student loan products.