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Draft New York State Budget Addresses LIBOR Transition - Finance and Banking


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Following requests from industry, New York State incorporated
legislative language addressing the expected discontinuance of
LIBOR in its recently released draft budget. The draft language
amends the General Obligations Law to require New York law-governed
contracts without LIBOR fallback provisions to use the replacement
rate recommended by the Alternative Reference Rates Committee
(ARRC).
1
Background
The U.K. Financial Conduct Authority (FCA), which regulates
LIBOR, has made clear that it will not compel banks to make LIBOR
submissions beyond 2021. Together with other official sector
bodies, it has strongly advised industry to transition away from ....

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Local lawmakers respond to storming of U.S. Capitol by demonstrators


Local lawmakers respond to storming of U.S. Capitol by demonstrators
and last updated 2021-01-07 10:02:18-05
Several local lawmakers have released statements in response to the storming of the Capitol.
Congressmember Brian Higgins (D)
“The US Capitol is a sacred space - a building at the literal center of our capital and central to our democracy. The actions of protestors today, egged on by the outgoing President to disrupt the certification of electoral votes of what is a ceremonial formality, should be seen by all Americans as a challenge to the legitimacy of our democracy. This is domestic terrorism, and it has no place in America.” ....

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