Federal banking regulators issue statement on loan reference rates and advise prompt transition from LIBOR
CFPB Monitor
NOVEMBER 10, 2020
The Fed, FDIC, and OCC have issued a “ Statement on Reference Rates for Loans ” that addresses replacement rates for the London Inter-Bank Offered Rate (LIBOR). In the new statement, the agencies emphasize that they are not endorsing a specific replacement rate for LIBOR for loans.
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