The Federal Reserve (Fed) is strengthening its push for financial institutions to disclose details on their progress related to LIBOR’s discontinuation. The Fed will ask banks to provide specifics on their current LIBOR utilization, plans for amending contracts connected to the benchmark, and existing fallback provisions. Policymakers are reiterating that entering into new LIBOR-linked contracts will produce significant financial risks, reiterating the wake-up call on the importance of transition plans to alternative rates.

You can access key LIBOR resources and other information about the LIBOR transition at www.structuredfinance.org.

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