To print this article, all you need is to be registered or login on Mondaq.com.
On March 9, 2021, the US Board of Governors of the Federal
Reserve System ( FRB ) issued SR 21-7,
Assessing Supervised Institutions Plans to
Transition Away from the Use of the LIBOR, providing
guidance to its bank examiners on how to assess the progress of
supervised institutions in preparing to transition away from U.S.
dollar (USD) LIBOR as a reference rate.
1 This guidance is
intended to complement the
Interagency Statement on LIBOR Transition
that FRB issued in November 2020, which encouraged supervised firms
to cease entering into new contracts that reference LIBOR as soon