The New York Fed hosted a public forum for the Alternative Reference Rates Committee (ARRC), a group of banks and regulators charged with guiding the financial markets away from the use of the scandal-plagued London Interbank Offered Rate (Libor). The event featured remarks by ARRC Chair Sandie O\u2019Connor and Fed Vice Chair for Supervision Randal Quarles, as well as panel discussions around developments in language that should be used to replace Libor in contracts for financial products like corporate loans, derivatives, and floating-rate notes. In his remarks, Quarles said the Fed should consider launching an average financing rate alongside the Secured Overnight Financing Rate, which is the preferred replacement for Libor.<\/p>\n
ARRC Roundtable: July 19, 2018
\nThe 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\u2019s public consultation and education process regarding contract robustness in instruments referencing LIBOR. The event will feature remarks by ARRC Chair Sandie O\u2019Connor, as well as panel discussions around developments in contract language for floating rate notes, corporate loans, securitizations, and derivatives.<\/p>\n
Agenda
\nWebcast
\nARRC Interim Report
\nARRC Second Report
\nIntroductory Remarks by Vice Chairman for Supervision Randal K. Quarles, Federal Reserve Board of Governors
\nPresentation Slides by ARRC Chair Sandra O\u2019Connor
\nPresentation Slides by Ann Battle, International Swaps and Derivatives Association
\nPresentation Slides by David Bowman, Federal Reserve Board of Governors
\nPresentation Slides by Brian Grabenstein, Wells Fargo
\nPresentation Slides by Floating Rate Notes Working Group
\nPresentation Slides by Business Loans & CLOs Working Group
\nARRC Roundtable: November 2, 2017
\nThe 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\u2014highlighted in a speech by Andrew Bailey, Chief Executive Officer of the United Kingdom\u2019s Financial Conduct Authority\u2014may impact not only the interest rate derivatives market, but also a wide range of other financial products and markets.<\/p>\n
Agenda
\nWebcast
\nIntroductory remarks by Federal Reserve Board Governor Jerome Powell
\nPresentation slides by ARRC Chair Sandra O\u2019Connor
\nPresentation slides and underlying data by Joshua Frost, Federal Reserve Bank of New York
\nPresentation slides by Scott O\u2019Malia and Katherine Darras, International Swaps and Derivatives Association
\nPresentation slides by David Bowman, Federal Reserve Board of Governors
\nARRC Roundtable on the Interim Report: June 21, 2016
\nThe ARRC hosted a roundtable on its Interim Report at the Federal Reserve Bank of New York on June 21, 2016.<\/p>\n
Agenda
\nIntroductory Comments by Federal Reserve Board Governor Jerome Powell
\nPresentation slides from the event<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The New York Fed hosted a public forum for the Alternative Reference Rates Committee (ARRC), a group of banks and regulators charged with guiding the financial markets away from the use of the scandal-plagued London Interbank Offered Rate (Libor). The event featured remarks by ARRC Chair Sandie O\u2019Connor and Fed Vice Chair for Supervision Randal […]<\/p>\n","protected":false},"author":16,"featured_media":1465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[31,1],"tags":[],"class_list":["post-1464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finances","category-titulares"],"acf":[],"yoast_head":"\n