Browsing: Libor

Economy

With the New York Federal Reserve beginning to publish the Secured Overnight Financing Rate — or SOFR — next week, the American Bankers Association today wrote to the Financial Accounting Standards Board in support of including the overnight index swap rate based on SOFR as a benchmark interest rate for hedge accounting purposes, as an alternative to U.S. dollar Libor.

Economy

The Alternative Reference Rate Committee today issued a second report summarizing its decision to adopt the Secured Overnight Financing Rate — or SOFR —  a broad measure of overnight Treasury financing transactions, as an alternative to U.S. dollar Libor.

Commercial Lending

Used for nearly half a century, Libor underpins more than $350 trillion of financial products. As regulators and the industry plan for its replacement, how will banking change?

Economy

The U.K.-based Financial Conduct Authority today announced that the London Interbank Offer Rate, or Libor, will continue to be supported by reporting banks until the end of 2021.

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