In the Headlines
February 3, 2022

More States Step Up to Guide LIBOR Transition, Provide Stopgap Solution

CFO Dive

Financial services attorney Douglas Youngman was interviewed by CFO Dive about the increasing pressure on federal lawmakers to pass a legislation that provides a replacement for the London Interbank Offered Rate (Libor). States like Georgia and Florida have introduced bills providing a substitute rate for Libor-legacy contracts. Mr. Youngman said these laws don't have provisions that specify the replacement rate, but because of growing concern that a federal legislation might not take place, states are taking action.

"[States are] starting to see this on the horizon, recognizing that they may not be able to wait for a federal solution and trying to come up with one that would at least cover their state," he commented.

READ: More States Step Up to Guide LIBOR Transition, Provide Stopgap Solution

Related News and Headlines