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The new fee schedule released this week by Intercontinental Exchange (ICE) announced a significant reduction in charges for financial institutions with less than $1.5 billion in assets that structure products or services with costs tied to the London Interbank Offering Rate, better known as LIBOR.

Despite the elimination of the $16,000 fee for smaller institutions, the changes will have a minimal impact on the estimated 2% of credit unions that fall into this newly defined category, according to Brian Turner, owner and chief strategist for Meridian Alliance, a credit union consulting firm based in Plano, Texas.

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