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> how does this impact existing contracts? This has kept lawyers busy for past the few years. The "LIBOR fallback language" was created and then inserted into
by riskneutral 5y ago
> how does this impact existing contracts?
This has kept lawyers busy for past the few years. The "LIBOR fallback language" was created and then inserted into existing contracts, to address this question. It's like a pull request for a patch. Most of the legacy contracts out there have been "patched" with the "fallback language" at this point, and as of Jan 1, 2022, no new LIBOR contracts are allowed.