RRUC

The Reference Rate Use Committee (RRUC) is a group of market professionals sponsored by the New York Fed to support integrity, efficiency, and resiliency in the use of U.S. dollar denominated reference rates across financial markets, including but not limited to those produced and administered by the New York Fed. In this capacity, the RRUC focuses on key issues related to the integrity and resiliency of reference rates, including how the use of reference rates is evolving and how the markets underpinning them may be changing too. It promotes best practices for the use of reference rates, building on lessons learned from the transition away from LIBOR and the ARRC’s recommendations. The RRUC is comprised of a diverse set of private sector entities, each with an important presence in markets where reference rates play a significant role, as well as official sector ex-officio members. The RRUC seeks to raise awareness and share insights via publications and other industry efforts, and, in that regard, collaborate with relevant international working groups and official sector entities across the globe, as appropriate.

The RRUC builds on the work of the ARRC, which facilitated an orderly transition away from U.S. dollar (USD) LIBOR in preparation for the end of the USD LIBOR panel in June 2023. Reflecting on lessons learned from LIBOR—including the benefit of having a strong global private and public sector partnership—the New York Fed launched the RRUC in 2024 to continue fostering engagement with industry on important issues related to the use of reference rates in the post-LIBOR world.

Reference Rate Use Committee Charter | Antitrust Guidelines