SEC Urges Companies to Tally Contracts Tied to Outgoing Libor

The Securities and Exchange Commission wants public companies to tell investors the possible value of contracts tied to the benchmark rate Libor, plus how many of those agreements extend beyond its 2021 expiration.

• The Division of Corporate Finance provided guidance to companies July 12 on the type of information they should consider including in disclosures about their financial instruments tied to the London Inter-Bank Offered Rate. It also laid out other steps companies should take in moving to a new benchmark interest rate.
• Companies should update their progress so far in evaluating and mitigating the risk of moving from Libor, ...