IBOR fallbacks for derivatives – ISDA's supplemental consultation on term and spread adjustments for floating rates and its consultation on pre-cessation issues

13 June 2019

ISDA has released two further consultations on benchmark fallbacks. One consultation covers spread and term adjustments for US dollar LIBOR, Canada's CDOR and Hong Kong's HIBOR. The second consultation seeks input on how derivatives contracts should address a situation where certain key IBORs are no longer representative of an underlying market. Together they represent a significant further step in ISDA's on-going work on developing fallbacks for interest rate derivatives.

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