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Speech
SOFR and the transition from LIBOR: remarks at the SIFMA C&L Society February Luncheon, New York City
Remarks at the SIFMA C&L Society February Luncheon, New York City.
Newsletter
What's the Potential Impact of Force Majeure Claims on Financial Stability
This article examines the potential aggregate impact on financial stability of several bilateral force majeure claims filed at approximately the same time in one or more markets. One and a half years after the pandemic started, I take stock of the developments involving force majeure claims thus far, and conclude that the likelihood of these claims creating a systemic threat to financial stability is low.