LIBOR-based investment products

On February 10, 2021, the Office of the Comptroller of the Currency (the “OCC”) published OCC Bulletin 2021-7, Libor Transition: Self-Assessment Tool for Banks, in order to help OCC-regulated financial institutions to identify and mitigate risks related to preparedness for the expected cessation of the London InterBank Offered Rate (“LIBOR”).

A checklist styled Self-Assessment Tool accompanies the Bulletin and consists of 37 questions across four general subject areas that each have one or more overarching questions as an objective.   
Continue Reading OCC Publishes LIBOR Self-Assessment Tool for Banks

The Alternative Reference Rates Committee (“ARRC”) has published a Buy-Side/Asset Owner Checklist (the “Buy-Side Checklist”) that is intended to assist asset managers and asset owners transition from U.S. Dollar (USD) LIBOR to the Secured Overnight Financing Rate (“SOFR”).

The Buy-Side Checklist establishes goals and concrete implementation steps for 10 “work categories”.  This blog post will provide asset management firms with an overview of this checklist. Attached to this post is a A Summary of The ARRC’s Buy-Side Checklist.  
Continue Reading The ARRC Publishes a Buy-Side Checklist and Vendor Survey for LIBOR Transition / SOFR Adoption