ITFA / BAFT Guidance on Accommodation of LIBOR Transition in MPAs

The ITFA Market Practice Committee (MPC) has been tracking developments with the phasing out of the LIBOR interest rate benchmark (as well as other term-based interbank reference rates) and would like to bring to Members’ attention some specific challenges posed to the wording of standardised MPAs which may arise during the transition period.

Following discussion with our counterparts at BAFT we have drafted the following linked document for your reference: ITFA / BAFT Guidance on Accommodation of LIBOR Transition in MPAs. We will continue to update Members and provide guidance on these developments as they unfold. In the meantime please feel free to contact the MPC with any questions on this, or related matters.