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ARC RECOMMENDATIONS REGARDING MORE ROBUST LIBOR FALLBACK CONTRACT LANGUAGE FOR NEW CLOSED END, RESIDENTIAL ADJUSTABLE RATE MORTGAGES November 15, 2019TABLE OF CONTENTS Part I: Background on the ARC
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ARRC recommendations refer to the recommendations provided by the Alternative Reference Rates Committee.
Financial institutions and market participants are required to file ARRC recommendations.
ARRC recommendations can be filled out online through the designated reporting platform.
The purpose of ARRC recommendations is to facilitate the transition from LIBOR to alternative reference rates.
ARRC recommendations require reporting on the exposure to LIBOR-based contracts and the plan for transitioning to alternative rates.
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