Fed's Williams industry can't wait on Libor shift

Author: Adam Button | Category: Central Banks

Comments from Williams at a Libor briefing

  • No comments on the outlook for monetary policy
  • Says he doesn't always sense urgency from market participants to shift language in contracts away from USD Libor
  • Libor is a leading risk to financial stability
  • We are now at a critical polit in the timeline
  • Consumer products are a critical area where industry needs to focus because it's going to be challenging
  • Biggest challenge is a willingness on the part of the market to stop using Libor
Some Libor deadlines hit in 2022.
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