The Federal Reserve Board set an August 29, 2022 deadline for comments on proposed rules to establish benchmark replacements for contracts that reference certain tenors of U.S. dollar LIBOR.
The Federal Reserve Board proposed rules to implement the Adjustable Interest Rate Act. The proposed rules would establish benchmark replacements for contracts that reference certain tenors of U.S. dollar LIBOR.
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.
Congress passed the Consolidated Appropriations Act, which includes the Adjustable Interest Rate (LIBOR) Act.