FHLB Des Moines Adopts LIBOR Fallback Language
posted on Friday, December 11, 2020 in Business News
To conform with the market transition away from LIBOR, FHLB Des Moines is adopting the Alternative Reference Rate Committee’s (ARRC) recommended fallback language for floating rate notes tied to LIBOR.
This fallback language will be applied to all of the Bank’s advance products with a LIBOR component, which include:
- Adjustable Rate Advances indexed to 1, 3 or 6-month LIBOR
- Capped LIBOR Advances
- Member-Option LIBOR Advances (MOLA)
Click here to learn more about the adopted fallback language or contact your Relationship Manager. To stay-up-to-date with how FHLB Des Moines is preparing for the LIBOR transition, visit the Bank’s LIBOR transition landing page.