CFTC Chair Rostin Behnam encouraged market participants to continue transition efforts in advance of the June 2023 cessation of USD LIBOR.

The effective date for a CFTC final rule to remove the mandatory clearing requirements relating to LIBOR will be September 23, 2022, with the exception of amendatory instructions 3 and 5, which will become effective July 1, 2023.

The CFTC adopted a final rule to remove the mandatory clearing requirements relating to LIBOR.

Comments are due by June 30, 2022 for a CFTC proposal to amend the clearing requirement by removing LIBOR and other interbank offered rates and include risk-free rates such as SOFR.

The CFTC proposed to amend the mandatory clearing requirement to remove LIBOR and other interbank offered rates and include risk-free rates such as SOFR.