The LIBOR Industry Working Group has published the following guide to help state and local issuers identify areas in which they may find potential LIBOR exposure. U.S. regulatory agencies continue to urge banks and other market participants to migrate away from LIBOR benchmarks in advance of their expected cessation later this year. NAST participates in the GFOA-led LIBOR Industry Working Group, which is focused on specifically preparing municipal issuers for the end of LIBOR.
This guide is particularly helpful for state government issuers looking to both identify their own potential LIBOR exposure as well as exposure faced by local issuers within their states. State debt managers are encouraged to share this resource with other issuers in their state.