Legislating for LIBOR's cessation | Eversheds Sutherland (US) LLP
To embed, copy and paste the code into your website or blog: On April 6, 2021, New York Governor Andrew Cuomo signed into law the New York State Legislature’s Senate Bill 297B/Assembly Bill 164B (the New York LIBOR Legislation) 1, strengthening the groundwork for the forthcoming transition from US dollar LIBOR (formally known as the London Interbank Offered Rate) as the benchmark interest rate. The New York LIBOR Legislation is primarily intended for “tough legacy” contracts, securities and instruments governed by New York law that either lack fallback provisions or include ineffective ...
Source: jdsupra.com