News

GOP Senator Supports LIBOR Legislation

October 4, 2021

Staff for Sen. Thom Tillis (R-NC) confirmed to CREFC and a number of financial services trade associations last week that he will be the lead Republican cosponsor of LIBOR legislation in the Senate, alongside Sen. John Tester (D-MT). At a subsequent Senate Banking Hearing, Tillis last week said publicly that he agrees completely with a Federal legislative solution to provide a replacement framework for outstanding financial contracts tied to LIBOR.

I was pleased to see the legislation clear the House Financial Services Committee on a strong bipartisan basis. Just want to let you [Secretary Yellen and Chair Powell] know that we understand that strong bipartisan action is needed in the Senate to affect a smooth transition and to provide certainty to capital markets. And I look forward to working with my colleagues, first among them, Senator Tester, to make sure that Congress does act and provide for a smooth transition.

Contact

JUSTIN AILES
Managing Director, Government Relations
202.448.0853
jailes@crefc.org
LIBOR receives support from GOP Senator.
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2021 CRE Finance Council. All rights reserved.

Become a Member

CREFC offers industry participants an unparalleled ability to connect, participate, advocate and learn!
Join Now

Sign Up for eNews