The IBOR Fallbacks Supplement amends the definitions applicable to various interbank offered rates (Section 7.1 Rate Options) under the 2006 ISDA Definitions and covered ISDA definitional booklets. The effective date of the Supplement is January 25, 2021 and all transactions entered into thereafter referencing either the 2006 ISDA Definitions or a covered ISDA definitional booklet shall automatically incorporate the revised definitions set out under the Supplement.