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News Release 2020-161 | November 30, 2020
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Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency
WASHINGTON—The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency today issued a statement encouraging banks to cease entering into new contracts that use USD LIBOR as a reference rate as soon as practicable and in any event by December 31, 2021, in order to facilitate an orderly—and safe and sound—LIBOR transition.
FDICDavid Barr(202) 622-4790 Federal ReserveDarren Gersh(202) 452-2955 OCCBryan Hubbard(202) 649-6870