On Aug. 28, DTC reported not accept LIBOR replacement index notice.
DTC issued Notice 20683-24 will no longer accept notices of LIBOR replacement index rates for posting to Legal Notice System (LENS), as LIBOR benchmark transition ends.
Notices of LIBOR Replacement Index Rates
To disseminate fallback replacement index rates for transition off LIBOR benchmark, DTC offered centralized process to disseminate fallback replacement index rate details.
Via the Issuer Agent Portal (IAP) through the LENS repository, directly to end investor.
As Jun. 2023 transition off LIBOR benchmark has concluded, LIBOR service on the IAP will no longer be available and all submissions should be input prior to Sep. 30.
No new rate replacements available on automated transmission file for subscribers.
Notices will continue to be available in LENS for period of five years from posting date.
Effectiveness
Beginning at close of business Sep. 30, 2024, DTC will no longer accept such notices.
Regulators
DTC
Entity Types
B/D; Depo; Exch
Reference
Nt 20683-24, 8/28/2024; IBOR
Functions
Compliance; Operations; Record Retention; Reporting; Technology; Trade Reporting
