8.18.21
On August 18, the Alternative Reference Rates Committee (ARRC) released a supplemental update to its recommended contractual fallback language for USD LIBOR securitizations. SFA as a co-chair of the ARRC’s Securitization Working Group (SWG) led the development of the update which acknowledges the occurrence of a benchmark transition event in the ARRC Recommendations Regarding More Robust Fallback Language for New Issuances of LIBOR Securitizations. This supplemental update further helps reduce the risk of serious market disruption in the event that LIBOR is no longer usable.
To learn more about SFA’s advocacy and work on the LIBOR transition, Click Here.