The Alternative Reference Rates Committee (ARRC) released additional information regarding its support of the transition from U.S. dollar (USD) LIBOR. The ARRC provided a timeline of key milestones to serve as a guide for those interested in following the progress to date. In addition, the ARRC has also released a set of Frequently Asked Questions (FAQs) regarding the previously released consultation on USD LIBOR fallback contract language for floating rate notes (FRNs). The consultation on FRNs and the similar consultation for U.S. syndicated loans are open for public feedback through November 8, 2018. The FAQs on the FRN consultation are meant to further help the public understand and respond to the requests for feedback during the ARRC’s comment period.
