ITFA BAFT LIBOR update – February 2021

Many of you are aware of the progressive transition away from LIBOR. You have therefore been approaching ITFA to better understand the possible impact to your business, and in particular whether any changes need to be made to some of the commonly used documents such as the BAFT MPA forms.

The Market Practice Committee is pleased to now share this latest update, which has been jointly drafted by ITFA and BAFT for the benefit of its respective members. The document addresses three key areas, based on what is currently known: the impact of LIBOR transition on the BAFT MPA, a broader update on LIBOR transition and, lastly, some recommended next steps.

We will continue to work closely with BAFT on this matter and provide further updates as more clarity emerges.