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ARRC releases guiding principles for consumer products

( July 10, 2019, 19:03 GMT | Official Statement) -- MLex Summary: The Alternative Reference Rates Committee has released guiding principles for the development of fallback contract language for consumer products as it prepares for the risk that the London Interbank Offered Rate may not exist beyond 2021. The committee also said its working group on consumer products will recommend models for using the Secured Overnight Financing Rate in retail products and identify best practices for transitioning away from Libor with various stakeholders.See document below....

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