With the London Interbank Offered Rate (LIBOR) expected to be discontinued at the end of 2021, McGuireWoods launches the LIBOR Transition Blog to track key regulatory and market developments and monitor potential replacement rates.
In the blog, the firm’s lawyers in the United States and London help readers stay abreast of important transition issues involving derivatives contracts, floating rate debt instruments, and syndicated and bilateral business loans. LIBOR is referenced in approximately $200 trillion of financial contracts.
The LIBOR Transition Blog also analyzes key information from the Alternative Reference Rates Committee convened by the Federal Reserve Bank of New York, the International Swaps and Derivatives Association, the Loan and Syndications Trading Association, the Loan Market Association, the U.S. Securities and Exchange Commission, and the Internal Revenue Service.
McGuireWoods is recognized as a top law firm for banking and finance law and it represents each of the top 10 U.S. banks ranked by assets. The firm ranked No. 1 worldwide for advising lenders in syndicated loans in 2019, according to league tables published by Refinitiv. U.S. News-Best Lawyers named McGuireWoods “Law Firm of the Year” for banking and finance law in 2020, the fourth time the firm has earned the honor.