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I'm a bit confused by the Phase 2 amendments.

If a derivative is replaced by a new derivative due to benchmark reform and the terms of the new derivative are not substantially modified, do I need to terminate and de-designate the existing hedge relationship (with a original derivative) or can I continue it and only need to amend the hedge documentation?

Have you got your answer?

Could you share it with us please?

Thanks you !

I haven’t got any replies , neither here nor anywhere else but I think it’s covered by Phase 2 of IBOR reform expedients and only hedge documentation would need to be amended.

Yes, you can continue the original hedge relationship if indeed the derivative has been replaced just because of the interest rate benchmark change

Any practical examples on IBOR reform phase 2?