As we kick off 2024, the focus on the unavailability of certain benchmarks continues on. To refresh, we have already seen the benchmark for US Dollars generally replaced with the Secured Overnight Financing rate as administered by the Federal Reserve Bank of New York, Sterling replaced with the Sterling Overnight Index Average as administered by the Bank of England and Swiss Francs replaced with the Swiss Average Rate Overnight as administered by the SIX Swiss Exchange AG.
Looking ahead, we expect to see the cessation of additional benchmarks including, but not limited to, the Canadian Dollar Offered Rate and Singapore Interbank Offered Rates.
Listen now! Cadwalader's Wes Misson speaks with the Global Legal Insights publisher James Strode to introduce the latest edition of GLI - Fund Finance (aka the “Pink Book”) and the year ahead for the fund finance industry.
Listen to the full interview here.
Cadwalader Fund Finance partners have contributed to the just-released 2024 edition of Fund Finance 2024 (aka the “Pink Book”), the leading legal treatise for the fund finance industry, published by Global Legal Group.
As part of Global Legal Insight's launch of the 2024 edition of the “Pink Book,” publisher James Strode sat down for a video interview with Terry Hatton of MUFG and the FFA, available here.
For the first podcast of 2024 from We Talk Banking and Finance with Walkers, Tom Speller, Managing Director and Head of European Funds at KBRA, takes some time out to speak with Zoë Hallam and Julia Keppe, co-heads of the Walkers' Channel Islands fund finance practice.
ING Fund Finance is hiring a Vice President – Senior Fund Finance Professional in Luxembourg. This is an exciting opportunity within Fund Finance where the successful candidate will have primary responsibilities for origination, execution and portfolio management. Candidates can view the job posting here and should contact Crystal Junyuan for more information.
As I sit here again with one more year in the rearview mirror since the last time we chatted, this older, wiser self has been reflecting on what I would tell my younger self if I had the chance at the beginning of January of yet another year in Fund Finance. Sorry, but I am not going to reveal the actual date of my first year, it was a long, long time ago in a galaxy far, far away with no BlackBerry, let alone an iPhone, no laptops at the bar exam (people still took the bar by handwriting-out their answers with no spell-check (good grief!), no mass sharing of secretaries (each secretary only covered one partner and one associate (not 15 lawyers at a time) and no emailing of documents (each first year quickly became the master of printing massive amounts of redlines and, wait for it, overnighting huge distributions to everyone on the distribution list by knowing each FedEx drop box cut-off time in the city and the last midnight run to the airport to Delta Dash for the final cut in the nick of time). Come to think of it . . .
The Fund Finance Association’s annual symposiums bring together investors, fund managers, bankers and lawyers for education and networking within the fund finance market. The 13th Annual Global Fund Finance Symposium will take place February 26-29, 2024 in Miami Beach.