“There is no scenario” in which a popular interest rate reference tool, scheduled to be phased out beginning at the start of next year, will continue past June 2023, “and nobody should expect it to,” […]
Banks, “as soon as practicable,” should cease entering into new contracts that employ a widely used reference rate that is being phased out, the three federal banking agencies in a statement issued Monday. The recommendation is […]
Federal and state regulators on Wednesday urged financial institutions to continue working to transition away from using LIBOR (the London Interbank Offered Rate) as a reference rate in any products, and they said supervision of […]
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