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publishing fallbacks

Bloomberg Begins Publishing Calculations Related to IBOR Fallbacks

Bloomberg and the International Swaps and Derivatives Association, Inc. (ISDA) announced that Bloomberg Index Services Limited (BISL) has begun calculating and publishing fallbacks that ISDA intends to implement for certain key interbank offered rates (IBORs). ISDA will soon publish amendments to its standard interest rate derivatives definitions to incorporate these new fallbacks, which are adjusted versions of various risk-free rates (RFRs). RFRs, which are overnight rates without a credit component, are inherently…