H.R. 4616Adjustable Interest Rate (LIBOR) Act of 2021

1 recorded action234 of these members are on the 2026 ballotWhat the measure does Read on Congress.gov

Sponsor: Brad Sherman [D-CA-30]
Policy area: Finance and Financial Sector
Committees: Financial Services Committee, Ways and Means Committee · and 2 more
Latest action: Mar 3, 2022 · Committee on Banking, Housing, and Urban Affairs. Hearings held.

IntroducedJul 22, 2021
Passed the HouseDec 8, 2021
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

This bill provides for the transition of certain financial contracts away from the London Interbank Offered Rate (LIBOR), a reference interest rate based upon the lending terms certain banks offer to each other for various lengths of time. LIBOR is set to be retired in 2023. Various financial contracts reference LIBOR as a benchmark for prevailing interest rates and use LIBOR in calculating certain payments or obligations.

In the event a contract referencing LIBOR does not have a fallback or replacement rate provision in effect when LIBOR is retired, or a replacement rate is not selected by a determining person as defined by the bill, the bill provides for a transition to a replacement rate selected by the Board of Governors of the Federal Reserve System. The bill also provides for conforming changes to these contracts, the continuity and enforceability of these contracts, and protections against liability as a result of such a transition.

Written by the nonpartisan Congressional Research Service, describing H.R. 4616 as passed House on Dec 8, 2021. It is not the text of the measure; a later amendment may have changed what it does.

How every member votedHouse roll call 407

House Dec 8, 2021

On Motion to Suspend the Rules and Pass, as Amended

Adjustable Interest Rate (LIBOR) Act

Passed · Two-thirds required

415 Yea 9 Nay 9 not voting

Crossed both parties 9 of 424 voting members broke with their own party: 9 Republicans.

Open the official roll call

How the chamber split

One dot per member. Select a seat or a bar to filter the list.

DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present

By party select a segment to filter

All members433 members

Democratic220 members

Republican213 members

marks half of the votes cast. A party’s majority is the side most of its voting members took.

Loading the public record

Who lobbied on H.R. 461636 organizations

Organizations that named H.R. 4616 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.

STRUCTURED FINANCE ASSOCIATIONfiled by STRUCTURED FINANCE ASSOCIATION, 1607 STRATEGIES, LLC

Financial Institutions/Investments/Securities · Housing · Banking · Taxation/Internal Revenue Code9 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

AMERICAN BANKERS ASSOCIATIONIts PAC: American Bankers Association PAC

Budget/Appropriations · Consumer Issues/Safety/Products · Copyright/Patent/Trademark · Financial Institutions/Investments/Securities +12 more7 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

CONSUMER BANKERS ASSOCIATIONIts PAC: Consumer Bankers Association PAC

Banking7 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

HOUSING POLICY COUNCILfiled by HOUSING POLICY COUNCIL, THE SMITH-FREE GROUP, LLC

Banking · Financial Institutions/Investments/Securities · Government Issues · Housing +3 more7 filings · 2nd Quarter (Apr 1 - June 30) 2022Filing

SECURITIES INDUSTRY AND FINANCIAL MARKETS ASSOCIATION (SIFMA)filed by AVOQ, LLC, CROSSROADS STRATEGIES, LLCIts PAC: Securities Industry & Financial Markets Association PAC

Financial Institutions/Investments/Securities · Labor Issues/Antitrust/Workplace · Budget/Appropriations · Retirement +4 more7 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

CHAMBER OF COMMERCE OF THE U.S.A.

Aerospace · Automotive Industry · Small Business · Taxation/Internal Revenue Code +34 more6 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

AMERIPRISE FINANCIAL, INC.Its PAC: Ameriprise Financial Inc. PAC

Banking · Financial Institutions/Investments/Securities · Labor Issues/Antitrust/Workplace · Retirement +2 more5 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

COMMERCIAL REAL ESTATE FINANCE COUNCILIts PAC: Commercial Real Estate Finance Council PAC

Banking · Insurance · Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code5 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

COMMERCIAL REAL ESTATE FINANCIAL COUNCILfiled by HATTON PARTNERS, LLC

Banking · Insurance · Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code5 filings · 4th Quarter (Oct 1 - Dec 31) 2022Filing

MORTGAGE BANKERS ASSOCIATIONIts PAC: Mortgage Bankers Association PAC

Banking · Housing · Insurance · Taxation/Internal Revenue Code +1 more4 filings · 4th Quarter (Oct 1 - Dec 31) 2021Filing

123 disclosures name this measure. Retrieved from LDA.gov on 2026-10-04. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.