LIBOR amendment documents

The transition to risk free rates away from LIBOR affects market standard documentation such as the Master Participation Agreement widely used for distribution of trade assets. ITFA, BAFT and law firm Sullivan & Worcester have therefore produced amendment agreements to the 2008 and 2018 English law master participation agreements and the 2010 and 2019 New York law versions as well as amended versions of the full agreements. References to LIBOR have been replaced by references to relevant central bank rates for those currencies for which LIBOR is currently quoted. The changes only deal with LIBOR replacement and not with any other issues or developments since each MPA was published e.g. bail-in.

A guidance note is also included.

All the documents are available to members only and can be found here.