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.
For more information, please contact DTCC Client Support: