The Structured Finance Association (SFA) today applauded the House Financial Services Committee adopting and favorably reporting the Adjustable Interest Rate (LIBOR) Act of 2021 (H.R. 4616) to the full House of Representatives by voice vote. The legislation will ease the transition away from the London Inter-Bank Offered Rate (LIBOR), which is the benchmark index currently used, for example, to determine the interest rate that consumers pay on some credit cards, home equity lines of credit, reverse mortgages, and private student loans.
In a letter to SFA members and SFVegas sponsors and attendees, SFA CEO Michael Bright outlined the health and safety protocols SFA is following to host the annual Vegas conference in a safe and responsible way for the thousands of attendees currently scheduled to attend.
In an op-ed for the Financial Times, SFA CEO Michael Bright warns, “Only Congress has the power to ensure an economically neutral outcome without years of court wrangling and confusion. Federal legislation for all Libor-based contracts is the best way to end this saga once and for all.”
Market Beats • Views from Capitol Hill • Sustainability & ESG •LIBOR Transition • Macro-economic Outlooks • Digital Assets •Consumer ABS • RMBS • CMBS • CLOs • CRT • Solar & PACE •Single-Family Rental • FinTech • Regulatory Outlooks
Resetting Expectations to Rebuild Balance
Join WiS for an interactive virtual panel continuing the discussion we began in April. This discussion will pick up where we left off, and specifically focus on the turning point the industry is experiencing after an extended period of remote work environments and the approaching re-entry to the in-person office.
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