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Financial Services Law Insights and Observations

NYDFS provides additional time on LIBOR transition plans

State Issues State Regulation NYDFS Consumer Protection LIBOR

State Issues

On January 27, NYDFS announced an update to its industry letter, previously covered by a Buckley Special Alert, pushing back the response deadline. Regulated entities will now have until March 23 (45 additional days) to deliver their transition plans. According to the updated request, the deadline was extended after NYDFS received a number of requests to add additional time to respond.