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On October 23, 2020, the International Swaps and Derivatives Association, Inc. (“ISDA”) published (1) the ISDA 2020 IBOR Fallbacks Protocol (the “Protocol”) and (2) a supplement to the 2006 ISDA Definitions that adds new IBOR Fallbacks (the “Supplement”). The Protocol and the Supplement are scheduled to become effective on January 25, 2021. Collectively, the two publications represent a very significant step in the move away from the use of LIBOR and other benchmarks. https://www.cadwalader.com/resources/clients-friends-memos/an-overview-of-the-isda-ibor-fallbacks-supplement-and-protocol