LIBOR Transition

The transition away from the London Interbank Overnight Rate (LIBOR) as a viable index for floating-rate debt is in progress. MBA supports business and policy efforts to mitigate the disruption arising from that transition.

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MBA is working closely with public and private sector entities to provide our members with the resources they need to ensure a smooth transition. The LIBOR transition, or the date that financial institutions must cease using LIBOR references, is June 30, 2023, and will impact institutions of all types and sizes, including lenders, servicers, service providers, and others operating in the single-family and commercial/multifamily markets.

NOTE: There is pending legislation in Congress that would facilitate the LIBOR transition towards the new benchmark rate, the Secured Overnight Financing Rate (SOFR). MBA policy staff continues to engage with policymakers in Congress to ensure that any legislation on the LIBOR transition would support residential and commercial lenders by avoiding any undue burdens or business interruptions associated with a benchmark rate transition.

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Recent MBA Activity Related to LIBOR

Market-Focused LIBOR Transition Resources