John Libra Quoted in American Banker on Libor and Federal Legislation to Aid in the Transition

John Libra spoke with American Banker on the consensus-building among banks and regulators that federal legislation will be required to avoid uncertainty and liability issues related to the years-long transition away from the London interbank offered rate (Libor).

Libra notes recent comments made by Federal Reserve Chair Jerome Powell and Vice Chair for Supervision Randal Quarles demonstrates increased federal involvement and “to us at least indicates that there's an interest at the federal level in reaching a resolution of this and getting some stability and predictability in the market.”

Read the full article here.