Sector Regulation Sector Regulation

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 Services Committee today.

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