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![handle is hein.congrecreports/crptxaecz0001 and id is 1 raw text is: AUTHENTICATED
U.S. GOVERNMENT
INFORMATION
GP
117TH CONGRESS 1 REPT. 117-206
1st Session HOUSE OF REPRESENTATIVES Part 1
ADJUSTABLE INTEREST RATE (LIBOR) ACT OF 2021
DECEMBER 7, 2021.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Ms. WATERS, from the Committee on Financial Services,
submitted the following
R E P O R T
[To accompany H.R. 4616]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4616) to deem certain references to LIBOR as referring
to a replacement benchmark rate upon the occurrence of certain
events affecting LIBOR, and for other purposes, having considered
the same, reports favorably thereon with an amendment and rec-
ommends that the bill as amended do pass.
CONTENTS
Page
Purpose and Sum m ary ............................................................................................ 5
Background and Need for Legislation .................................................................... 5
Section-by-Section Analysis of the Legislation ..................................................... 8
H earings ................................................................................................................... 9
Com m ittee Consideration ........................................................................................ 10
C om m ittee V otes ...................................................................................................... 10
Com m ittee Correspondence .................................................................................... 11
Com m ittee Oversight Findings ............................................................................... 16
Statement of Performance Goals and Objectives .................................................. 16
New Budget Authority and C.B.O. Cost Estimate ................................................ 16
Com m ittee Cost Estim ate ....................................................................................... 16
Federal M andates Statem ent ................................................................................. 16
Advisory Com m ittee Statem ent .............................................................................. 16
Applicability to Legislative Branch ........................................................................ 17
Congressional Earmarks, Limited Tax Benefits, and Limited Tariff Benefits ... 17
Duplicative Federal Program s ................................................................................ 17
Changes in Existing Law Minority Views ............................................................. 17
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Adjustable Interest Rate (LIBOR) Act of 2021.
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