A Federal Reserve-developed alternative to a now-defunct interest rate reference vehicle has made considerable progress as a replacement rate, the group that developed the rate said Thursday. In a report on its latest meeting Wednesday […]
Legislation that would address “tough legacy” contracts under a now-defunct interest rate reference was approved by the Senate 68-31 March 10 and signed into law by President Joe Biden (D) Tuesday. The legislation, part of […]
A “pipeline” of new loans and securitizations reflects a shift away from a now-defunct interest reference rate toward a replacement rate, according to a group that helped set up and introduce the replacement. In a […]
Creditors must select replacement indices for existing LIBOR-linked consumer loans after April 1, 2022, a final rule issued Tuesday by the federal consumer financial protection agency states, which includes closed- and open-end credit provisions that […]
Signaling the final countdown to the end of the soon-to-be-defunct LIBOR reference rate, fallback recommendations for 1-week and 2-month USD LIBOR contracts using a Federal Reserve-developed alternative were released Friday, designed to meet statutory requirements […]
Anyone in banking who thinks some form of LIBOR will remain available as a reference rate despite its scheduled expiration has another thing coming, the chief of the Office of the Comptroller of the Currency […]
The importance of maintaining trust in the banking system during the transition from the soon-defunct LIBOR to replacement rates at year’s end will be the topic for the top regulator of national banks when he […]
An updated self-assessment tool to aid banks in their transition from a soon-to-be-defunct reference rate was published Monday by the national bank regulator. In its Bulletin 2021-46, the Office of the Comptroller of the Currency […]
Slowing the use of U.S. dollar LIBOR – a reference rate for derivative contracts and some loan interest rates – should begin now to foster a smooth, complete end to the rate’s overall use, a […]
The “year of magical thinking” is over, and market participants should act now to accelerate their transition away from LIBOR, the Federal Reserve’s top supervision officer said Tuesday. Federal Reserve Board Vice Chair for Supervision […]
Copyright (c) 2022, RegReport.info; Contact: editor@regreport.info