Partnership Applauds NYS Legislature for Passing LIBOR Transition Bill, Safeguarding New York Consumers

March 24, 2021


Katy Feinberg

The Partnership issued the following statement on the passage of the New York State LIBOR transition bill:

“The Partnership thanks Assemblymember Zebrowski and Senator Thomas, along with Senate Majority Leader Stewart-Cousins and Assembly Speaker Heastie, and the members of the state Legislature for authorizing the orderly transition from LIBOR (London Inter-Bank Offered Rate) to a new standard for establishing interest rates,” said Kathryn Wylde, President and CEO of the Partnership for New York City. “This is an important step to ensure that New York remains the financial capital of the world and will provide economic stability for New Yorkers invested in pension funds, student loans, mortgages and other consumer products.”