Centralizing Communication for the Retirement of LIBOR
for US Debt Securities

About the Transition

The Depository Trust & Clearing Corporation (DTCC), Alternative Reference Rate Committee (ARRC) and other industry organizations are collaborating to create an enhanced Legal Notice System (LENS) process that will allow for the centralized communication of fallback index rates ahead of the June 2023 retirement of LIBOR.

DTCC, along with the ARRC and the ARRC Operations / Infrastructure subgroup have worked closely with the issuer/agent/trustee community, as well as the data solutions providers and broader industry (i.e., buy-side and sell-side) to outline a process that helps collect, streamline, standardize and communicate descriptive replacement rate details to ensure a smooth transition from the LIBOR benchmark.

Please also visit our LIBOR (USD) Transition Product Page for additional information on how DTCC is facilitating the LIBOR rate replacement process.