The Federal Financial Institutions Examination Council will host a complimentary webinar on Thursday, Dec. 6, at 1 p.m. to promote awareness and understanding of efforts to develop alternative reference rates to the London Interbank Offered Rate, the benchmark for setting interest rates around the world.

LIBOR may not be available after 2021, and credit unions should be aware of possible alternative rates that will be used as benchmarks in the future and how to prepare for that possibility.

The 60-minute webinar, which will include NCUA staff, will provide participants with background information on LIBOR and recent developments in the market, including initiatives by the Alternative Reference Rates Committee.

The agencies will also answer any questions submitted by SR-FRB-FFIEC@frb.gov.

To register for the webinar, visit the Industry outreach registration website.