The End of LIBOR and the Emergence of SOFR: A Critical Financial Transition

Posted by SSA

in Banking & Finance, Blog, Capital Markets & Securities, Financial Regulatory, Foreign Investment

It has nearly a 50-year long history. Each day, 18 international banks submit their ideas of the rates they think they would pay if they had to borrow money from another bank on the interbank lending market in London. It was the average interest rate on transactions that a selection of banks carried out with one another on a daily basis, for each currency and maturity term, and it was regulated by the Financial Conduct Authority (FCA). It was kind of like a benchmark for interest rates. LIBOR reached its final retirement on June 30, 2023....

25 August

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PCA Framework: Navigating New Bank Merger Guidelines 4 Key Steps

Posted by SSA

in Article, Banking & Finance, Capital Markets & Securities, Corporate Governance, Financial Regulatory, Mergers & Acquisitions, Private Client

The current bank merger is one of the protective measures as well as a discretionary measure for the non-performing banks under the purview of the prompt corrective action framework or PCA framework introduced by the Bangladesh Bank via BRPD Circular No - 17 dated 05.12.2023. Accordingly, on 04.04.2024, the Bangladesh Bank issued the first ever bank merger policy i.e. Guidelines for Merger/Amalgamation of Banks/Financial Institutions (the “Guideline”), outlining both voluntary or agreed mergers and forced mergers....