Yep. All the fat cat mucky mucks that used the "old" system to cheat and steal will sadly have to say their final "Goodbye" to those good ole days of corruption and fraud and.......oh!, their simply marvelous "profits"!
Joint Statement on Completing the LIBOR Transition
Five federal financial institution regulatory agencies in conjunction with the state bank and state credit union regulators (collectively, agencies) are jointly issuing this statement to remind supervised institutions that U.S. dollar (USD) LIBOR panels will end on June 30, 2023. The agencies also reiterate their expectations that institutions with USD LIBOR exposure should complete their transition of remaining LIBOR contracts as soon as practicable. As noted in prior interagency statements, failure to adequately prepare for LIBOR’s discontinuance could undermine financial stability and institutions’ safety and ... (full story)
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