James Hardy

United States funds first eligible bilateral loan to Ukraine under Ukraine Loan Cooperation Mechanism / the G7's "ERA Loans for Ukraine" Initiative What has happened… In June and then October this year, the G7 announced an agreement to launch the 'Extraordinary Revenue Acceleration (ERA) Loans for Ukraine' initiative ("ERA Loans for Ukraine Initiative"), where the G7 members agree to provide to Ukraine loans of up to €45 billion (approximately US$50 billion) against non-repayable financial...

This is an opportunity for the government to take stock and establish a clear plan to which industry can align itself. As Skidmore recognised, there is an absence of a strategic long-term policy for net zero in the UK. Turner & Townsend’s recommendations, reflected in the final Net Zero Review, urged a coherent, ‘programmatic approach’ to the net zero transition. This would set out clear targets and the required technological, behavioural and strategic steps.

Key points Term SOFR is eligible for use in general business loans (in contrast to the much narrower use cases for £ Term SONIA or any €STR1 -based forward-looking term rate). However, the use case for Term SOFR in the derivatives market is (deliberately) very narrow. On hedged Term SOFR transactions, market participants must take particular care over the mismatch between LMA Exposure Draft and ISDA Supplement # 84 basis "temporary" and "permanent" fallbacks.