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- S.3844
S.3844: Economic Continuity and Stability Act
About This Bill
- Introduced March 15, 2022
- Latest Major Action March 15, 2022
Bill Sponsor
Bill Cosponsors
3 (1 Democrat, 2 Republicans)
Bill Version
- Introduced in Senate - March 15, 2022
Bill Summary
Economic Continuity and Stability Act This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain...
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
March 15, 2022 |
Read twice and referred to the Committee on Finance.
|
March 15, 2022 |
Introduced in the Senate by Jon Tester (D-Mont.) |