NYDFS Announces Action To Ensure Regulated Financial Institutions Are Prepared For Libor Transition

Dec. 13, 2019
NY Dept of Financial Services
NYS DFS Superintendent directing New York-regulated depository and non-depository institutions, insurers and pension funds to submit plans for managing the risks relating to LIBOR discontinuation.
NYDFS Announces Action To Ensure Regulated Financial Institutions Are Prepared For Libor Transition

New York State Department of Financial Services (DFS) Superintendent Linda A. Lacewell announced that the DFS is directing New York-regulated depository and non-depository institutions, insurers and pension funds to submit their plans for managing the risks relating to the likely discontinuation of the London Interbank Offered Rate (LIBOR) at the end of 2021.