10.6.20
A new piece by S&P Global found that while progress has been made towards transitioning away from LIBOR, there are still pressing issues that the structured finance market needs to address. Many legacy contracts don’t have standard transition languages, legislative solutions are still up in the air, and there is significant variability in LIBOR use across asset classes. The piece concluded by noting questions that remain for the transition such as the likelihood of New York State passing LIBOR safe harbor legislation and what actions U.S. and U.K. banks plan to take on the regulatory front.