ARRC Members Lead Webinars on Consultations for LIBOR Fallback Language
The Federal Reserve’s Alternative Reference Rates Committee (ARRC) released two new webinars explaining its consultations on U.S. dollar LIBOR fallback language for bilateral business loans and securitizations. The ARRC consultations propose draft language for new contracts that reference LIBOR in order to provide transition to an alternative reference rate. The deadline for providing feedback on the consultations is February 5, 2019.
The webinars are part of a series that also includes consultations for the floating rate note and syndicated loans markets. Cadwalader represented the ARRC in the development of all consultations. Cadwalader’s LIBOR Preparedness Team is headed by partner Lary Stromfeld, and includes partners David Burkholder, David Gingold and Jeff Nagle.
To view the webinars, please use the links below.
Floating Rate Notes
Presented by Alexis Pederson, Senior Counsel, Wells Fargo Legal Department and Lary Stromfeld, Partner, Cadwalader, Wickersham & Taft LLP
Presented by Meredith Coffey, Executive Vice President – Research & Regulation, Loan Syndications and Trading Association (LSTA) and Tess Virmani, Senior Vice President & Associate General Counsel, LSTA
Bilateral Business Loans
Presented by Hu A. Benton, Vice President of Banking Policy, American Bankers Association
Presented by Sairah Burki, Senior Director and Head of ABS Policy, Structured Finance Industry Group (SFIG) and Lisa A. Pendergast, Executive Director, Commercial Real Estate Finance Council (CREFC)