Understanding the Upcoming Shift to “Hardwired” LIBOR Replacement Provisions in Bilateral Business Loan Documents
By EsqSocial Corporation 20/10/20
By the end of October 2020, lenders should begin adopting a “hardwired” approach to replacing the benchmark interest rate for new loan originations with LIBOR-based interest rates. That’s according to the updated ARRC Recommended Best Practices for Completing the Transition from LIBOR published on September 3, 2020 by the New York Fed’s Alternative Reference Rates Committee (“ARRC”)....
By: Arnall Golden Gregory LLP