Meetings & Events

Meetings
2021
October 13 Agenda |
September 8 Agenda (updated) | Minutes
August 11 Agenda | Minutes
July 14 Agenda (updated) | Minutes
June 17 Agenda (updated) | Minutes
May 19 Agenda | Minutes
April 14 Agenda (updated) | Minutes
March 18 Agenda | Minutes
February 17 Agenda (updated) | Minutes (updated)
January 13 Agenda | Minutes
2020
December 9 Agenda | Minutes
October 21 Agenda | Minutes
September 9 Agenda | Minutes
August 5 Agenda | Minutes
June 24 Agenda | Minutes
May 20 Agenda | Minutes
May 4 Agenda | Minutes
April 22 Agenda | Minutes
April 7 Agenda | Minutes
March 20 Agenda | Minutes
February 19 Agenda | Minutes
January 22 Agenda | Minutes
2019
December 3 Agenda | Minutes
November 15 Agenda | Minutes
October 22 Agenda | Minutes
September 5 Agenda | Minutes
June 26 Agenda | Minutes
May 16 Agenda | Minutes
April 11 Agenda | Minutes
February 28 Agenda | Minutes | Presentation
January 15 Agenda | Minutes
2018
December 5 Agenda | Minutes
October 18 Agenda | Minutes
September 20 Agenda | Minutes
July 24 Agenda | Minutes
June 18 Agenda | Minutes
May 17 Agenda | Minutes
April 17 Agenda | Minutes
March 22 Agenda | Minutes
March 7 Agenda | Minutes
2017
October 31 Agenda | Minutes
September 29 Agenda | Minutes
August 1 Agenda | Minutes | Presentation
June 22 Agenda | Minutes | Press Release
June 16 Agenda | Minutes | Presentation
June 12 Agenda | Minutes
April 12 Agenda | Minutes
February 22 Agenda | Minutes | Presentation
2016
December 1 Agenda | Minutes
September 23 Agenda | Minutes
July 28 Agenda | Minutes
May 19 Agenda | Minutes
April 14 Agenda | Minutes
February 25 Agenda | Minutes
January 28 Agenda | Minutes
2015
December 3 Agenda | Minutes
October 22 Agenda | Minutes
September 29 Agenda | Minutes
July 17 Agenda | Minutes
June 11 Agenda | Minutes
May 26 Agenda | Minutes
April 2 Agenda | Minutes
February 19 Agenda | Minutes
January 22 Agenda | Minutes | Presentation
2014
December 12 Agenda | Minutes
November 17 Agenda
Events

The ARRC is hosting The SOFR Symposium: The Final Year, a webinar series which highlights the significance of the LIBOR transition in its final year. The symposium sessions include panel discussions and presentations from ARRC members and representatives across various ARRC member institutions. Participants will have the opportunity to join engaging and dynamic sessions that give market participants practical guidance and answer any transition questions they have.

The dates and topics are below, and detailed information is available at this page.

  • Symposium 1: March 22 from 1:30 PM – 3:30 PM EDT

    The first symposium focused on progress in transitioning away from LIBOR, and on areas such as the loan market where progress has been slower.



  • Symposium 2: May 11 from 10:30 AM – 12:15 PM EDT

    The second symposium highlighted the significance of the LIBOR transition for financial stability, the importance of moving off of LIBOR in a sustainable way, and will also feature a discussion among market participants about loan market development in the Secured Overnight Financing Rate (SOFR).



  • Symposium 3: June 8 from 10:30 AM – 12:00 PM EDT

    The third event built on the ARRC's first and second events in the SOFR Symposium series by covering the transition away from LIBOR to the Secured Overnight Financing Rate (SOFR) in the derivatives market.



  • Symposium 4: July 21 from 10:00 AM – 11:00 AM EDT

    The fourth event built off of previous events and opened with an update on the SOFR First Initiative that is being led by the Commodity Futures Trading Commission's (CFTC) Market Risk Advisory Committee's (MRAC) Interest Rate Benchmark Reform Subcommittee. The first panel was followed by a discussion about the ARRC's continued progress towards formally recommending the CME SOFR Term Rates.



  • Symposium 5: September 20 from 12:00 PM – 1:00 PM EDT

    The fifth symposium covered the transition from the perspectives of the U.S. Securities and Exchange Commission (SEC) and buy-side institutions and featured remarks by SEC Chair Gary Gensler followed by a discussion featuring leadership from the buy-side on their experience transitioning away from LIBOR, how SOFR supports their efforts, and the impacts of U.S. supervisory guidance about the transition.


  • Symposium 6: October 26 from 11:00 AM – 12:30 PM EDT

    The ARRC will host the sixth event in in The SOFR Symposium: The Final Year series on October 26, 2021. The upcoming event will continue to cover the transition away from LIBOR to the Secured Overnight Financing Rate (SOFR) from the perspectives of the Office of the Comptroller of the Currency and banks and borrowers. The event will open with remarks by Acting Comptroller of the Currency Michael J. Hsu, who will discuss the importance of maintaining trust in the banking system during the transition from LIBOR to replacement rates. This will be followed by a discussion featuring leadership from various banks and borrowers on their efforts to prepare for the U.S. supervisory guidance advising firms to end new LIBOR issuances by year-end, and how they are taking the ARRC';s recent "time to move" recommendation into account to do so.

    This Symposium will air live as a webinar at 11:00 AM EDT on Tuesday, October 26. It is available for members of the public and the press to register here. Note that capacity is limited so registration and viewing is on a first come, first serve basis. For those who register after capacity has been reached, note that a recording will be available shortly afterwards on the ARRC's website.

    The agenda is as follows.

    • Introduction
      • Introduction by Tom Wipf, ARRC Chair and Vice Chairman of Institutional Securities at Morgan Stanley

    • Insights from the Office of the Comptroller of the Currency
      • Remarks by Acting Comptroller of the Currency Michael J. Hsu
          • This will be followed by a moderated discussion

    • Views from Banks and Borrowers on Transitioning from LIBOR
      • Discussion will include the following panelists:
        • Roger Bongiovanni, JPMorgan Chase
        • Amol Dhargalkar, Chatham Financial
        • Joyce Frost, Riverside Risk Advisors LLC
        • Brian Grabenstein, Wells Fargo

     


ARRC SOFR Summer Series: July and August 2020
The ARRC hosted a SOFR Summer Series, a webinar series designed to educate the public on the history of LIBOR; the development and strengths of the SOFR; progress made in the transition away from LIBOR to date; and how to ensure organizations are ready for the end of LIBOR.

The dates and topics are below, and detailed information is available at this page.
Floating Rates Notes Vendor Workshop Webcast: June 1, 2020
ARRC representatives hosted a webcast on Monday, June 1, 2020. A recording of the webcast can be viewed via this link and a follow-up message can be found here.

Vendor Survey Webcast: February 10, 2020
ARRC representatives hosted a webcast on Monday, February 10, 2020 to answer vendors' questions. A recording of the webcast can be viewed via this link.

ARRC Vendor Workshop: June 28, 2019
The Alternative Reference Rates Committee (ARRC) will host a vendor workshop on Friday, June 28, from 9:30 AM to noon at the Federal Reserve Bank of New York. The workshop will provide a forum for members of the ARRC's Operations/Infrastructure Working Group to collaborate with key vendors of software and technology that are critical to operationalizing the transition to SOFR. Vendors that are interested in participating in the workshop and learning more about the LIBOR transition should email arrc@ny.frb.org to register. Please note that while the ARRC will try to accommodate all vendors that are interested in participating, space is limited and attendance is at the ARRC's discretion.
ARRC Roundtable: June 3, 2019
The Alternative Reference Rates Committee (ARRC) and the NYU Stern School of Business and its Salomon Center for the Study of Financial Institutions co-hosted a half-day forum on Monday, June 3, 2019. The forum featured remarks by Vice Chair for Supervision Randal K. Quarles and ARRC Chair Tom Wipf, as well as presentations and panel discussions about how market participants can use SOFR in cash products, about the ARRC's recommended fallback language, and about steps that some firms are taking to transition away from LIBOR.
ARRC Roundtable: July 19, 2018
The ARRC hosted a roundtable at the Federal Reserve Bank of New York on July 19, 2018. The event provided an opportunity for the ARRC to report on its overall progress since it was reconstituted, and was a starting point in the ARRC’s public consultation and education process regarding contract robustness in cash products referencing USD LIBOR. The event featured remarks by ARRC Chair Sandra O’Connor, as well as panel discussions around developments in contract language for floating rate notes, syndicated business loans, securitizations, and derivatives.
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 USD 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 the UK’s FCA Chief Executive Andrew Bailey—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.