|
Financial Institution Letter |
|
FFIEC Joint Statement on Managing the LIBOR Transition |
|
Summary:
The FFIEC has issued a Joint Statement on Managing the LIBOR Transition, which highlights the financial, legal, operational, and consumer protection risks that will result from the expected discontinuation of the London Interbank Offered Rate (LIBOR) for institutions with exposure to the LIBOR reference rate. Institutions with LIBOR exposure should have appropriate risk management processes in place to identify and mitigate transition risks.
The Joint Statement on Managing the LIBOR Transition can be found on the Federal Financial Institutions Examination Council’s (FFIEC) website.
Statement of Applicability to Institutions with Total Assets under $1 Billion:
This Financial Institution Letter (FIL) applies to all FDIC-supervised institutions with exposure to the LIBOR reference rate.
Distribution:
FDIC-Supervised Institutions
|
|
The FDIC does not send unsolicited e-mail. If this publication has reached you in error, or if you no longer wish to receive this service, please unsubscribe |
|
|
|