OCC Requests Comment on Renewal of "LIBOR Self-Assessment" Tool

The Office of the Comptroller of the Currency solicited comments on the renewal of its "LIBOR Self-Assessment" tool.

In a notice and request for comments published in the Federal Register, the OCC stated that the self-assessment tool was developed for banks to review their ongoing uses of LIBOR. (See also, here). The tool aims to assist banks in identifying and mitigating their LIBOR-related transition risks by assessing "the appropriateness of a bank's LIBOR transition plan, the execution of the plan by its management, and related matters."

Comments on the proposed renewal are due by February 17, 2022.