Things you should know
1. As communicated by the FCA
2 A specified RFR may also be referenced upon a stated determination by the FCA that the LIBOR is not deemed ‘representative’ of an underlying market or economic reality. This could occur shortly prior to LIBOR’s permanent discontinuance. We refer to isda.org for details.
3. The fall-backs would apply to a number other ‘IBORs’, as well – we refer to isda.org for details.
4 So-called ‘triggers’ that end the contractual reference to LIBOR and ‘switch’ to the relevant fall-back adjusted RFR may vary as well.
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