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.
The Alternative Reference Rates Committee published a "LIBOR Legacy Playbook" for transitioning legacy USD LIBOR cash products.
The Alternative Reference Rates Committee issued guidance on the transition away from using USD LIBOR ICE swap rates to alternative reference rates.
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."
At a hearing before the Senate Committee on Banking, Housing, and Urban Affairs, witnesses addressed the use of mandatory arbitration clauses in financial service products.