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.

In December 2022, the Federal Reserve issued a final rule implementing the US Adjustable Interest Rate (LIBOR) Act by identifying benchmark rates based on SOFR (Secured Overnight Financing Rate) that will replace LIBOR in certain financial contracts after June 30, 2023.

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Recent MBA Activity Related to LIBOR

Market-Focused LIBOR Transition Resources