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I am currently looking to enter into a new adjustable-rate London Interbank Offered Rate (LIBOR) based loan, will this affect me?

If you are considering entering into a new adjustable-rate loan, the reference rate should not be in LIBOR at this time. If you are looking to use LIBOR, you should ask your bank or servicer why they are using a rate that is ending on June 30, 2023.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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