Giancarlo Applauds ARRC’s Decision on New Reference Rate
June 23, 2017
WASHINGTON, DC – CFTC Acting Chairman J. Christopher Giancarlo released the following statement on the Alternative Reference Rate Committee announcement:
"I applaud the important work and the thoughtful consideration of the ARRC in selecting a strong alternative reference interest rate to replace Libor. A broad Treasuries repo rate will encourage a wide range of market participants to use this reference rate, which will strengthen our financial system. I look forward to the ARRC's final report later this year."
Last Updated: June 23, 2017