The Alternative Reference Rates Committee, a Federal Reserve-backed advisory panel, says it wants to see by June a computer model for mortgages that incorporates an alternative interest-rate benchmark to replace Libor. Daniel Coates, a Federal Housing Finance Agency official and a panel member, says that is "a really aggressive deadline."
Fed official John Coates has said the Fed - backed advisory panel wants the Fed to develop a computer model that incorporates an alternative interest - rate benchmark , requesting a model change .