The Alternative Reference Rates Committee (“ARRC“) released consultations on U.S. dollar (“USD“) LIBOR fallback contract language for bilateral business loans and securitizations for public feedback. These consultations outline draft language for new contracts that reference LIBOR so as to ensure these contracts will continue to be effective in the event that LIBOR is no longer usable.

The ARRC is seeking feedback on each proposed approach and on the key issues involved. Comments should be sent to the ARRC Secretariat (arrc@ny.frb.org) no later than February 5, 2019.

Questions regarding the consultations should also be sent to the ARRC Secretariat (arrc@ny.frb.org) and will not be posted for attribution.