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- The US Department of Justice blessed ISDA's plans to transition from Libor. "ISDA's proposal has the potential to offer substantial benefits to the financial services industry. Accordingly, the Department has no present intention to challenge ISDA's proposal to amend its standardized documentation," Makan Delrahevi, Assistant Attorney General, wrote.
- See the DOJ letter here.
- In a Sept. 21 letter to Bank of England Governor Andrew Bailey and New York Federal Reserve President John Williams, ISDA said the protocol could take effect in mid- or late- January. Libor is due to end at the end of 2021.