Congress Enacts LIBOR Transition Law; Fed Banking Regulators Deem LIBOR Issuances “Safety And Soundness” Concerns

LexisNexis (June 9, 2022, 8:23 AM EDT) -- The January 2022 issue of this newsletter is a Special Report on the cessation of the publication of the benchmark interest rate known as the LIBOR (London Interbank Rate) scheduled for June 30, 2023. The Special Report discusses the challenges during the transition period facing U.S. financial market participants who are stakeholders in so-called “tough legacy” (difficult to amend) financial contracts” lacking satisfactory “fallback provisions.”...