ARRC sets sights on Libor fallbacks for consumer loans
The Alternative Reference Rates Committee (ARRC) is working to set guidelines for consumer loans in its latest efforts to prepare capital markets for the end of Libor.
The recommendations will affect residential mortgage loans, as well as other floating rate products, including student, auto and credit card loans.The ARRC, formed in 2014 by the Federal Reserve, has been working to ensure a successful transition from Libor, and has issued fallback recommendations for floating rate loans ...
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