ARRC Releases Survey Seeking Information from Lenders and Borrowers on Remediation of USD LIBOR Loans
On August 9, the Alternative Reference Rates Committee (ARRC) released a survey seeking information from lenders and borrowers on plans to remediate USD LIBOR loans. The survey is designed to assess plans that firms have under way and going forward to transition to new rates or to update fallback language in USD LIBOR loans prior to LIBOR’s cessation. Results from the survey will assist the ARRC and market participants in determining LIBOR transition readiness and the need to address any potential operational issues.
Respondents should enter their responses into the spreadsheet survey, and submit by email to the ARRC Secretariat (arrc@ny.frb.org) by September 7, 2022. The ARRC has noted that all individual firm responses will remain confidential, and the survey results will be aggregated and anonymized prior to being published.