Publication of LIBOR is expected to cease by the end of 2021.
This impacts many types of loans, business agreements, and systems that will need to be amended to use a new benchmark interest rate.
M&T Bank has created a dedicated LIBOR Transition Office.
With a dedicated LIBOR Transition Office, M&T is committing extensive resources toward making the necessary investments in systems, personnel, and processes required to develop best-in-class client solutions. Understanding how this impacts M&T Bank clients with LIBOR-priced credit facilities is important, and we are here to help you navigate your options.
We'll be sure to provide updates on the LIBOR transition from the Alternative Reference Rate Committee (ARRC), convened by the Federal Reserve Board and Federal Reserve Bank of New York, as well as guidance on its recommended alternative – the Secured Overnight Financing Rate (SOFR).
The information made publicly available via the resources referenced on this page are for informational purposes only, and should NOT be viewed or construed as legal, accounting, tax or other professional advice. Readers should consult with their own professional advisors to discuss any information provided herein. M&T Bank is not endorsing any third party sources cited herein, and makes no representations or warranties about the accuracy or completeness of any information contained herein.
If you have questions, contact your M&T Relationship Manager.