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.
- ARRC Interim Report
- ARRC Second Report
- Introductory Remarks by Vice Chairman for Supervision Randal K. Quarles, Federal Reserve Board of Governors
- Presentation Slides by ARRC Chair Sandra O’Connor
- Presentation Slides by Ann Battle, International Swaps and Derivatives Association
- Presentation Slides by David Bowman, Federal Reserve Board of Governors
- Presentation Slides by Brian Grabenstein, Wells Fargo
- Presentation Slides by Floating Rate Notes Working Group
- Presentation Slides by Business Loans & CLOs Working Group
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.
- Introductory remarks by Federal Reserve Board Governor Jerome Powell
- Presentation slides by ARRC Chair Sandra O’Connor
- Presentation slides and underlying data by Joshua Frost, Federal Reserve Bank of New York
- Presentation slides by Scott O’Malia and Katherine Darras, International Swaps and Derivatives Association
- Presentation slides by David Bowman, Federal Reserve Board of Governors