BPI Statement on Inclusion of LIBOR Bill in Omnibus

Washington, D.C. — BPI President and CEO Greg Baer released the following statement on a LIBOR transition bill included as part of the omnibus in the House today:

“BPI welcomes the inclusion of this important piece of legislation spearheaded by Sen. Tester, Sen. Tillis and Rep. Sherman. It brings much-needed clarity to consumers, investors, businesses and banks with certain LIBOR-based contracts. Its targeted approach provides clear relief for tough-legacy LIBOR contracts that don’t have adequate fallback language that will prevent unnecessary costs during the transition away from LIBOR. We encourage the House and Senate to quickly pass and to send this legislation to the President’s desk.”

Learn more about our work on LIBOR here:


About Bank Policy Institute.

The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.

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