Financial Services Financial Services

US switch from Libor to eventually require legislation, Fed’s Quarles says

By Neil Roland
  • 12 Nov 2020 17:26
  • 13 Nov 2020 09:33
The US transition from Libor-linked financial contracts to market-based rates will eventually require legislation, said Randal Quarles, the Federal Reserve’s regulatory chief.
This legislation should address some of the more complicated moves from existing contracts than are to be covered by new policies under consideration, he told the House Financial

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Neil Roland

Senior Correspondent

Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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