In September ARRC asked for feedback on fallback language alternatives for floating-rating notes and syndicated business loans to identify the best way for existing contracts to move to a new benchmark if Libor is no longer viable. The US loan market is split on the best way to develop standard language ahead of the release of LIBOR . ARRC received feedback from 35 firms on the fallback contract language for loans . Respondents were divided , with 46 % in favour of a change and 41 % preferring an amendment approach . The committee said it will review the feedback and release its final recommendations regarding standard language in early 2019 .
The US loan market is split on the best way to develop standard language ahead of the release of LIBOR . ARRC received feedback from 35 firms on the fallback contract language for loans . Respondents were divided , with 46 % in favour of a change and 41 % preferring an amendment approach . The committee said it will review the feedback and release its final recommendations regarding standard language in early 2019 .