The Alternative Reference Rates Committee provided a "detailed practical implementation checklist" to be used by buy-side firms transitioning from LIBOR to a Secured Financial Overnight Financing Rate.
The Alternative Reference Rate Committee asked vendors "whose products and/or services might be impacted by USD LIBOR transition" to complete a survey concerning their preparedness to move toward recommended alternative reference rates.
The Financial Conduct Authority and ICE Benchmark Administration confirmed that the "reasonable period" during which LIBOR would continue to be published following an announcement that LIBOR is no longer representative would be minimal.
The New York State Department of Financial Services extended the deadline for regulated entities to submit their plans to address the end of LIBOR and the associated risks. The deadline was extended to March 23, 2020.