Bill Title: Enacts provisions relating to the discontinuance of LIBOR (the London interbank offered rate); prohibits parties from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement; establishes that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; provides a safe harbor from litigation for the use of the recommended benchmark replacement.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2021-03-24 - SUBSTITUTED BY A164B [S00297 Detail]

Text: Latest bill text (Amended) [HTML]

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