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Fed's Quarles wants industry to speed up Libor switch

Friday, April 12, 2019   (0 Comments)
Posted by: Amanda Averch
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The Federal Reserve is scrutinizing how banks plan to transition away from Libor, says Vice Chairman for Supervision Randal Quarles, who urges the financial industry to accelerate efforts. The private sector needs to take on the responsibility of transition, Quarles says, and the Fed expects "an appropriate level of preparedness at the banks it supervises."

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