News analysis on how banks and asset managers are implementing conduct-focused rules, including investor protection under Mifid II’s product governance frameworks and the integrity of Libor.

BSBY Q&A with Umesh Gajria, Bloomberg

Oct 13, 2021

“Ultimately, our goal is to keep working with our clients to provide them with the tools they need,” says Gajria, in the context of heavy criticism against credit-sensitive rates

Libor: heavy reliance on ISDA fallbacks will create cliff-edge 

Oct 21, 2021

Significant progress has been made on the Libor transition across currencies, but higher-than-expected reliance on fallback solutions will give rise to operational risk early next year 

Sterling bond market will rely heavily on synthetic Libor 

Oct 12, 2021

Significant progress has been made ahead of Libor’s phase-out, including on consent solicitations, but a large portion of the bond market will not have transitioned by year-end 

Markets and authorities focus on perfect storm of inflation risk

Oct 11, 2021

Printing money may have mitigated the Covid-19 crisis in the short-term, but it has also contributed to a looming inflation risk that will be difficult to manage in the context of consistently low interest rates

SOFR ICE swap rate expected to boost USD Libor transition efforts

Oct 6, 2021

Launched in beta version, the rates will aim to support transition efforts in the non-linear derivatives market, but some market participants say they are coming quite late in the day 

Buyside favours SOFR over credit-sensitive rates

Oct 4, 2021

Investment managers speaking at the fifth ARRC SOFR symposium expressed their preference for the secured overnight financing rate, arguing that other alternatives lack robustness

Synthetic Libor will cover all contracts, FCA says

Sep 29, 2021

The regulator has clarified the timing and scope of its tough legacy fix for Japanese yen and sterling Libor, saying it will cover all legacy contracts except cleared derivatives for at least a year

SOFR First falls short of USD Libor market needs

Sep 27, 2021

Two months into the SOFR First initiative, the numbers are out, and although a pick-up in activity has been observed, many still wonder whether that will be enough to tip the balance decisively before no-new-Libor at year-end 

Special reports

Latest report

Following more than 40 hours of interviews with 63 sources across financial services, Practice Insight’s landmark investigation into the accumulative impact of the financial crisis is now available