Regulatory AlertsSR 21-12: Answers to Frequently Asked Questions on the Transition Away from London Interbank Offered Rate (LIBOR)
The Board of Governors of the Federal Reserve System issued this guidance to assist financial institutions supervised by the Federal Reserve in transitioning away from the London Interbank Offered Rate (LIBOR). The document provides a comprehensive set of frequently asked questions that were initially released in July 2021 and subsequently updated in November 2021 to address ongoing industry inquiries. Institutions are encouraged to regularly monitor the Board’s public website for periodic updates and revisions to these FAQs as the transition progresses.
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