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Loan Market Association revised rate switch agreements—what’s changed?

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Published on: 01 December 2020

Published by a LexisNexis Banking & Finance expert

Table of contents

What new documents has the LMA published?
What are the key features of the Revised Rate Switch Agreements
How do the Revised Rate Switch Agreements differ from the Initial Rate Switch Agreement?
Rate switch mechanics
Rounding
Compounding methodology supplement
Duration of interest periods
Replacement of Screen Rate
Cost of funds
How does the Rate Switch Agreement (lookback without observation shift) differ from the Rate Switch Agreement (lookback with observation shift)?

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Article summary

Banking & Finance analysis: This News Analysis provides a summary of the key ways in which the rate switch agreements published by the Loan Market Association (LMA) in November 2020 differ from the initial draft published by the LMA in September 2020.

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