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Prepared Remarks Before the Financial Stability Oversight Council: LIBOR

· Gary Gensler, Chair of the U.S. Securities and Exchange Commission (United States)

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· Gary Gensler Wiki · U.S. Securities and Exchange Commission WikiPrepared Remarks Before the Financial Stability Oversight Council: LIBOR

ContextSpeech by Gary Gensler, Chair of the U.S. Securities and Exchange Commission.

Why it mattersGensler reminds firms to prepare for the end of LIBOR in June.

Problems raised
  1. LIBOR is ending.
  2. Some alternatives share its flaws.
  3. Thin markets are open to manipulation.
Solutions proposed
  1. Prepare registrants for the June transition.
  2. Avoid rates based on thin markets.
  3. Favour robust reference rates.
Read full speech on sec.gov ↗

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