Publication
Understanding hydrogen in Japan
The Japanese government passed the Hydrogen Society Promotion Act (the Hydrogen Act) on 17 May 2024, which implements a ‘twin-track’ approach to subsidising the hydrogen economy
LIBOR transition - are you ready?
The transition from LIBOR to alternative risk free rates (RFRs) represents one of the biggest changes to the financial services industry, including those providing trust and agency services. There is increasing pressure on market participants from global regulators to take action to address LIBOR transition in both new and legacy transactions. Given the volume of product and processes affected, LIBOR transition will entail considerable work and risk.
As a result of regulator pressure, LIBOR and other benchmark rates are likely to be restructured or abolished by the end of 2021. We want to keep you up to date with key regulatory and industry developments and provide practical tools to help you navigate the challenges the reforms present.
This briefing considers the issues arising from LIBOR transition for administrative agents, collateral agents, trustees, intermediaries and other financial institutions to help you find a solution.
The team tracks financial services regulatory developments. A sample of IBOR updates over the past month includes:
United States
- CFPB addresses elimination of LIBOR in consumer credit transactions
- ARRC 2020 Best Practices for Completing the Transition from LIBOR
- ARRC’s further consultation on spread adjustment methodologies and advice on the SOFR Index
United Kingdom
- Supporting Risk-Free Rate transition through the provision of compounded SONIA
- FMSB publishes a Spotlight Review on navigating conduct risks in LIBOR transition
- RFRWG paper on the identification of tough legacy issues
- The Prudential Regulation Authority publish statement on prioritization in light of COVID-19
Other regions
Co-Head of Financial Institutions Disputes, United States
Email
steve.dollar@nortonrosefulbright.com
Recent publications
Publication
Understanding carbon capture and storage in Singapore
As the world embraces the ideals of sustainability and works towards reduced reliance on fossil fuel sources of energy and reduction in greenhouse gas emissions, Singapore has set out how it plans to cut emissions to meet its 2030 Nationally Determined Contribution climate targets – with carbon capture technology expected to be among the most effective measures.
Publication
Understanding hydrogen in Singapore
Singapore launched its National Hydrogen Strategy on 25 October 2022. The Singapore government believes that low-carbon hydrogen has the potential to be a major decarbonisation pathway to support Singapore’s accelerated transition towards net zero by 2050, while strengthening its energy security and resilience. It foresees low-carbon hydrogen playing an important role in:
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