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RFRWG recommends overnight SONIA as successor rate for fallbacks in bond documentation referencing GBP LIBOR

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Published on: 19 May 2021
Published by LNB News

LNB News 19/05/2021

Document Information

Issue Date: 19 May 2021

Published Date: 19 May 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Working Group on Sterling Risk-Free Reference Rates (RFRWG) has published a statement recommending the use of overnight SONIA, compounded in arrears, as the successor rate recommended to replace GBP LIBOR for the purposes of the operation of fallbacks in bond documentation that envisage the selection of a recommended successor rate.

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Jurisdiction(s):
England, Northern Ireland, Scotland and Wales

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