SPONSORED BY: FEDERAL RESERVE BOARD and FEDERAL RESERVE BANK of NEW YORK

Meetings

June 18, 2018 | Agenda
May 17, 2018 | Agenda
April 17, 2018 | Agenda | Minutes
March 22, 2018 | Agenda | Minutes
March 7, 2018 | Agenda | Minutes
October 31, 2017 | Agenda | Minutes
September 29, 2017 | Agenda | Minutes
August 1, 2017 | Agenda | Minutes | Presentation
June 22, 2017 | Agenda | Minutes | Press Release
June 16, 2017 | Agenda | Minutes | Presentation
June 12, 2017 | Agenda | Minutes
April 12, 2017 | Agenda | Minutes
February 22, 2017 | Agenda | Minutes | Presentation
December 1, 2016 | Agenda | Minutes
September 23, 2016 | Agenda | Minutes
July 28, 2016 | Agenda | Minutes
May 19, 2016 | Agenda | Minutes
April 14, 2016 | Agenda | Minutes
February 25, 2016 | Agenda | Minutes
January 28, 2016 | Agenda | Minutes
December 3, 2015 | Agenda | Minutes
October 22, 2015 | Agenda | Minutes
September 29, 2015 | Agenda | Minutes
July 17, 2015 | Agenda | Minutes
June 11, 2015 | Agenda | Minutes
May 26, 2015 | Agenda | Minutes
April 2, 2015 | Agenda | Minutes
February 19, 2015 | Agenda | Minutes
January 22, 2015 | Agenda | Minutes | Presentation
December 12, 2014 | Agenda | Minutes
November 17, 2014 | Agenda


ARRC Roundtable: July 19, 2018

The Alternative Reference Rates Committee (ARRC) will host a half-day forum on Thursday, July 19, from 9:00 AM to noon. The forum will provide an opportunity for the ARRC to report on its overall progress since it was reconstituted, and will be a starting point in the ARRC’s public consultation and education process regarding contract robustness in instruments referencing LIBOR. The event will feature remarks by ARRC Chair Sandie O’Connor, as well as panel discussions around developments in contract language for floating rate notes, corporate loans, securitizations, and derivatives. Additional information regarding the half-day forum, including panel discussion topics and a full agenda, will be available in due course.

In order to attend, please register here.



ARRC Roundtable: November 2, 2017

The ARRC hosted a roundtable at the Federal Reserve Bank of New York on November 2, 2017. The event covered the work of the ARRC, including its recommendation of the Secured Overnight Financing Rate as a robust alternative rate to U.S. dollar LIBOR, and details of its paced transition plan. Additionally, representatives of both ARRC and non-ARRC member firms discussed how the risks around LIBOR—highlighted in a speech by Andrew Bailey, Chief Executive Officer of the United Kingdom’s Financial Conduct Authority—may impact not only the interest rate derivatives market, but also a wide range of other financial products and markets.



ARRC Roundtable on the Interim Report: June 21, 2016

The ARRC hosted a roundtable on its Interim Report at the Federal Reserve Bank of New York on June 21, 2016.


About Us

Major reference rates are widely used in the global financial system as benchmarks for a large volume and broad range of financial products and contracts. In response to concerns regarding the reliability and robustness of these reference rates, The Financial Stability Oversight Council and Financial Stability Board called for the development of alternative interest rate benchmarks. In 2014, the Board of Governors of the Federal Reserve System and the Federal Reserve Bank of New York convened the Alternative Reference Rates Committee in order to identify best practices for alternative reference rates, identify best practices for contract robustness, develop an adoption plan, and create an implementation plan with metrics of success and a timeline.

The ARRC accomplished its first set of objectives and has identified the Secured Overnight Financing Rate (SOFR) as the rate that represents best practice for use in certain new U.S. dollar derivatives and other financial contracts. It also published its Paced Transition Plan, with specific steps and timelines designed to encourage adoption of the SOFR. The ARRC was reconstituted in 2018 to help to ensure the successful implementation of the Paced Transition Plan and serve as a forum to coordinate and track planning across cash and derivatives products and market participants currently using U.S. dollar LIBOR. To that end, the ARRC will endeavor to deliver recommendations for addressing risks in contract language, orderly transitions on a voluntary basis, and actions that would facilitate such transitions as it deems appropriate in order to meet these objectives.

Terms of Reference

Antitrust Guidelines