FDIC: FFIEC Joint Statement on Managing the LIBOR Transition
July 03, 2020
July 03, 2020
WASHINGTON, July 3 -- The Federal Deposit Insurance Corporation issued the following financial institution letter (No. FIL-68-2020):
Summary:
The FFIEC has issued a Joint Statement on Managing the LIBOR Transition, which highlights the financial, legal, operational, and consumer protection risks that will result from the expected discontinuation of the London Interbank Offered Rate (LIBOR) for institutions with exposure to the LIBOR reference rate. Institutions with LIB . . .
Summary:
The FFIEC has issued a Joint Statement on Managing the LIBOR Transition, which highlights the financial, legal, operational, and consumer protection risks that will result from the expected discontinuation of the London Interbank Offered Rate (LIBOR) for institutions with exposure to the LIBOR reference rate. Institutions with LIB . . .