LIBOR Resources
Below CC Pace would like to provide the following resources to assist in the LIBOR Transition.
Resources
Alternative Reference Rates Committee (ARRC)
- ARRC website
- ARRC implementation checklist
- ARRC white paper on using SOFR for ARMs
- ARRC recommended fallback contract language
- ARRC Consultation on Spread Adjustment Methodologies for Fallbacks in Cash Products Referencing USD LIBOR
Securities Industry and Financial Markets Association (SIFMA)
Mortgage Bankers Association (MBA)
- MBA website
- MBA LIBOR transition webpage
- MBA consumer disclosure template
- MBA webinar on contractual fallback language
- MBA primer on the LIBOR transition for the commercial mortgage market
Federal Housing Finance Agency (FHFA)
Fannie Mae
Freddie Mac
National Credit Union Administration (NCUA)
- The NCUA is a regulator, not a trade association. LIBOR Transition is one of their four 2020 priorities
US Treasury
Financial Accounting Standards Board (FASB)
Consumer Financial Protection Bureau (CFPB)
Introductory Articles:
- https://iflrinsight.com/articles/426/sofr-weaknesses-show-need-for-multiple-replacement-rates
- https://www.bnnbloomberg.ca/wave-goodbye-to-libor-welcome-its-successor-sofr-1.1358571