Who Does Antonoplos & Associates Represent
Antonoplos & Associates specializes in representing the banking and finance industry. We represent financial institutions with legal matters involving commercial and residential lending and most recently the transition away from LIBOR.
Antonoplos & Associates financial services practice provides our diverse base of banking clients with a comprehensive range of solutions for LIBOR loan-related legal issues. Our LIBOR attorneys provide the banking industry with over twenty years of client-focused legal experience in title litigation, loan modification, title curation, and equitable subrogation resolutions in connection with loan portfolios.
What is LIBOR
The London interbank offered rate (LIBOR), the “world’s most important number,” is being phased out by 2021. The popular index was created almost 50 years ago on August 15, 1969, and began as a floating, market-determined interest rate for syndicated loans. However, with the increase in financial technology that has connected economies around the world, the index has blossomed into an interest rate for an estimated $350 trillion in outstanding financial arrangements around the world. LIBOR encompasses most financial contracts such as public and private loans and bonds; consumer financial products such as credit cards, mortgages and student loans, and some $200 trillion in interest rate derivatives.
With fewer interbank transactions being reported to the LIBOR commission, the index is becoming an unreliable benchmark for global financial markets and regulators are now scrambling to find a new yet trusted interest rate index. As LIBOR will be extinct by 2021, the US Federal Reserve, the UK’s Financial Conduct Authority (FCA) and other regulators have led working groups to develop risk-free rates (RFRs) as an alternative to LIBOR.
Contact Our DC Law Office for More Information
At Antonoplos & Associates, we have over 20 years of legal experience and dedication to working for our clients every day. Our multi-state law firm specializes in lender representation and real estate services. This includes working with community banks, local, regional, and national financial institutions and private lenders in residential, commercial and construction loans and finance. For more information regarding our LIBOR services practice area, schedule a consultation with one of our attorneys or check out our blog.
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