Commentary by Nihal Patel
The Financial Stability Oversight Council and the Financial Stability Board considered the "post-LIBOR transition landscape" and steps forward to ensure market resilience.
In its 2022 Annual Report, the Financial Stability Oversight Council offered recommendations touching on (i) digital assets, (ii) climate-related financial risks, (iii) investment fund disclosure, (iv) Treasury markets, (v) cybersecurity and (vi) LIBOR transitions.
At a hearing before the Senate Committee on Banking, Housing and Urban Affairs, Treasury Secretary Janet L. Yellen testified on the Financial Stability Oversight Council's 2021 Annual Report to Congress.
The Congressional Research Service recapped key issues in policymakers' "efforts to transition away from the use of LIBOR in financial products in order to avoid disruption."
In its 2021 Annual Report, the Financial Stability Oversight Council assessed the state of the financial system and provided recommendations concerning climate-related financial risk, digital asset risk, the orderly transition away from LIBOR, and cybersecurity.