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What options do I have if I have a loan that is affected by London Interbank Offered Rate (LIBOR)?

If you have an existing adjustable-rate LIBOR contract, your contract should be converted by June 30, 2023. In the event that your bank or servicer has not communicated with you about the transition and conversion, you should contact your bank or servicer to inquire about the contractual arrangement and what impact the LIBOR transition will have on your payment.

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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