• LIBOR

Legacy contracts using the London interbank offered rate — which is set to be phased out at the end of this year — were granted a reprieve to mid-2023. However, there is no wiggle room on when the rate will expire for new deals, said Federal Reserve Vice Chairman Randal Quarles.

March 22
2 Min Read
“These announcements are absolutely not meant to support new Libor activity or continued business as usual," said Fed Vice Chair of Supervision Randal Quarles.
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