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  • When Should You Start a Hedge Program?

    A popular Chinese proverb says “the best time to plant a tree was 20 years ago. The second-best time is now.” This is equally true in the world of hedging.

  • Time to Act: SOFR Readiness Checklist

    With the transition from LIBOR in full swing, the time to act is now. New transactions starting in January 2022 will not be based on LIBOR. Some financial institutions are using SOFR, but there are other reference rates being used, causing market confusion and changing risk profiles. 

  • US Markets Building Liquidity in the SOFR Market

    On Friday, the CME announced they will start publishing Term SOFR Rates for 1-month, 3-month and 6-month tenors.

  • FCA, IBA & ISDA Announcement About LIBOR Discontinuance: March 5, 2021

    Friday, March 5, 2021, the official groundwork was laid to discontinue LIBOR by the FCA, IBA and ISDA.

  • LIBOR: Unexpected News

    In unexpected news today, the end of USD LIBOR has been extended to June 30, 2023.

  • FASB Proposes ASU Expanding Topic 848 (Reference Rate Reform)

    Late last week, the Financial Accounting Standards Board (FASB) issued an exposure draft expanding the scope of Topic 848 to include derivatives that are discounted, but not reset, using rates subject to reference rate reform (RRR). The proposed amendments target contracts with calculations (other than resets) referencing IBOR rates, e.g. margining, discounting or price alignment.