A Network of the National Association of State Treasurers
Policy Update:

OMS Statement on LIBOR Transition In The Municipal Securities Market

SEC Building Washington
Office of Municipal Securities (OMS), Securities and Exchange Commission,

Today, the U.S. Securities and Exchange Commission’s Office of Municipal Securities (OMS) released a statement on LIBOR Transition In The Municipal Securities Market. The office states that the “discontinuation of LIBOR could have a significant impact on the municipal securities market and may present a material risk for many issuers.” The statement focuses on issues and considerations surrounding LIBOR cession to participants in the municipal markets, where LIBOR exposure may exist for issuers, and what risks issuers face as we near the anticipated phase out.