The Alternative Reference Rates Committee (ARRC) today published recommended best practices to assist market participants as they prepare for the cessation of U.S. dollar (USD) LIBOR. Particularly in the current context of market uncertainty, the ARRC’s recommended best practices are intended to clarify the timelines and interim milestones that the ARRC believes are appropriate for transitioning away from USD LIBOR in a way that will minimize market disruption and support a smooth transition through the broad voluntary adoption of the Secured Overnight Financing Rate (SOFR), the ARRC’s recommended alternative ... (full story)