The Office of the Comptroller of the Currency solicited comments on the renewal of its "LIBOR Self-Assessment" tool.
In a notice and request for comments published in the Federal Register, the OCC stated that the self-assessment tool was developed for banks to review their ongoing uses of LIBOR. (See also, here). The tool aims to assist banks in identifying and mitigating their LIBOR-related transition risks by assessing "the appropriateness of a bank's LIBOR transition plan, the execution of the plan by its management, and related matters."
Comments on the proposed renewal are due by February 17, 2022.
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