Federal Reserve says policy rate on bank lending will be phased out by June 2023 – CNBC
An interest rate that banks around the world use as a benchmark for short-term borrowing will be phased out and eventually replaced by June 2023, the Federal Reserve said on Monday. The Fed was joined by UK regulators in announcing plans for the London Interbank Offered Rate, commonly known as Libor. According to the announcement, […]
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