Comments Due to NAFCU: Federal Reserve - Regulation Implementing the Adjustable Interest Rate (LIBOR) Act

Important Regulatory Dates Add to Calendar 2022-08-18 17:00:00 2022-08-18 17:00:00 Comments Due to NAFCU: Federal Reserve - Regulation Implementing the Adjustable Interest Rate (LIBOR) Act NAFCU would like to highlight the following: Starting in June 2023, LIBOR can no longer be used for existing financial contracts. This proposed regulation is being issued pursuant to the Adjustable Interest Rate (LIBOR) Act (the LIBOR Act). The regulation identifies which contracts must use the Board-selected benchmark replacement. The regulation proposes different benchmark replacement rates for derivatives, cash transactions, and covered government-sponsored enterprise (GSE) contracts. Comments due to NAFCU: August 18, 2022 Comments due to Federal Reserve: August 29, 2022 Comment now   NAFCU will send comments on behalf of its members to the Federal Reserve by its deadline (August 29, 2022). Location NAFCU digital@nafcu.org America/New_York public

NAFCU would like to highlight the following:

  • Starting in June 2023, LIBOR can no longer be used for existing financial contracts.
  • This proposed regulation is being issued pursuant to the Adjustable Interest Rate (LIBOR) Act (the LIBOR Act).
  • The regulation identifies which contracts must use the Board-selected benchmark replacement.
  • The regulation proposes different benchmark replacement rates for derivatives, cash transactions, and covered government-sponsored enterprise (GSE) contracts.

Comments due to NAFCU: August 18, 2022

Comments due to Federal Reserve: August 29, 2022

Comment now  

NAFCU will send comments on behalf of its members to the Federal Reserve by its deadline (August 29, 2022).