On May 13, 2020 BAFT and ITFA published wording guidance for Master Participation Agreements (MPAs) during the transition away from LIBOR.
BAFT and ITFA are developing updated standard wording for use in BAFT MPAs following the transition from LIBOR. As forward looking benchmark rates are not yet available, the Associations request avoiding the use of institution specific wording.
During the interim to preserve consistent standard MPA documentation wording for longer-dated transactions, a high-level disclaimer has been developed for inclusion in marketing materials and term sheets.
Please access the full guidance document in the Library of Documents page under BAFT Standard Documents.