FED – Agencies issue statement on LIBOR transition
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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
Source: Federal Reserves
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