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November 30, 2020

Agencies issue statement on LIBOR transition

  • Board of Governors of the Federal Reserve System
  • Federal Deposit Insurance Corporation
  • Office of the Comptroller of the Currency

For release at 9:00 a.m. EST

WASHINGTON—The FED, Federal Deposit Insurance Corporation & Office of the Comptroller of the Currency today issued a statement encouraging banks to cease entering into new contracts that use USD LIBOR as a reference rate as soon as practicable & in any event by December 31, 2021, in order to facilitate an orderly—& safe & sound— LIBOR transition.

Last Update:

November 30, 2020