Guidance note on RFR Term Rates

The recent authorisation of a forward-looking US Dollar term rate by the Alternative Reference Rates Committee (ARRC) in the United States is the most significant development in the transition from LIBOR for trade finance banks and customers since the process began. Whilst the new recommended rate behaves operationally in a very similar way to LIBOR, changes will need to be made to existing documents and procedures and some important commercial decisions need to be made.

As part of their ongoing efforts to assist and inform the market through the LIBOR Hub, ITFA, Sullivan and TFG have collaborated to bring you a guide to the issues to be tackled and some ideas on how to solve them. The guide can be found on the Hub here and on the ITFA website.

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