The transition from interbank offered rates (IBORs) to alternative reference rates remains high on the agenda of policy-makers and market participants. The UK Financial Conduct Authority announcement on March 5, 2021 on the timing for the cessation or loss of representativeness of all 35 LIBOR settings gave market participants a clear set of deadlines across all currencies and tenors. This announcement, along with other major upcoming developments in 2021, should significantly accelerate LIBOR transition efforts.
This paper examines several major developments in 2021 that have been announced and/or are expected to occur related to the adoption of replacement benchmarks such as risk-free rates (RFRs). It also reviews the significant progress made on the transition from LIBOR and other IBORs to RFRs in 2020.
Documents (1) for Adoption of RFRs: Major Developments in 2021
Latest
India Forum Scott O'Malia Opening Remarks
India Derivatives Markets Forum April 16, 2026 Opening Remarks Scott O’Malia, ISDA Chief Executive Good morning and welcome. This is the third year we’ve run the India Derivatives Markets Forum, and the number of people attending has grown each...
Global Trading in INR Derivatives
Global trading in derivatives involving the Indian rupee (INR) has expanded significantly over the past decade, reflecting the currency’s growing role in international hedging and trading activity. According to the Bank for International Settlements (BIS) Triennial Central Bank Survey, the...
Response to FCA on Commodity Derivatives Clearing
On April 9, ISDA, the Commodity Markets Council Europe (CMCE), Energy Traders Europe (ETE) and FIA jointly responded to Chapter 7 of the UK Financial Conduct Authority’s (FCA) Quarterly Consultation CP26/8 on increasing the clearing threshold for commodity derivatives under the UK...
Response on EC’s SFR Proposal
On April 9, ISDA published technical comments on the European Commission’s (EC) proposed Settlement Finality Regulation (SFR) as it applies to designated EU systems and registered third-country systems. One significant concern is that the scope of insolvency protections provided to...