News
21 May 2021

Legislation needed to smooth transition from LIBOR, warns Feb official

Region:
Middle East & Africa, Americas, Asia-Pacific, Europe

US Congress needs to pass legislation to help safeguard financial market stability during the transition from the London Interbank Offered Rate (LIBOR) to a new reference rate, Federal Reserve Vice Chair Randal Quarles said.Trillions of dollars in financial contracts using LIBOR lack adequate...

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