Federal Reserve Bank of New York President William C. Dudley argued that "aggressive action" is needed across the financial industry to address market-wide issues concerning the global market transition away from LIBOR.
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The Federal Reserve Board proposed expanding the number of financial institutions that fall under the "netting" provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991.
Federal Reserve Bank of New York Senior Vice President Lorie Logan discussed the future of the London Interbank Offered Rate and efforts to administer and produce more effective reference rates.
Board of Governors of the Federal Reserve System Governor Jerome H. Powell described current considerations related to a transition from LIBOR to an alternative rate.
The Board of Governors of the Federal Reserve System will publish three new benchmark interest rates based on overnight repurchase agreement transactions backed by Treasuries.