ARRC Releases Consultations on Fallback Contract Language for Floating Rate Notes and Syndicated Business Loans for Public Feedback

The Alternative Reference Rates Committee (ARRC) released consultations on U.S. dollar LIBOR fallback contract language for floating rate notes and syndicated business loans 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.

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