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.
The Federal Reserve Bank of New York will begin publishing the Secured Overnight Financing Rate, or SOFR, on April 3, the bank announced today.
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?
The Federal Reserve today announced plans to publish three new reference rates for use in U.S. dollar derivatives and financial contracts starting in the second quarter of 2018.
While the London Interbank Offer Rate, or Libor, will continue to be supported by reporting banks until 2021, Federal Reserve Governor Jerome Powell today cautioned that “we do not think market participants can safely assume” that Libor will remain viable beyond that date.
The Federal Reserve today asked for public comment on a proposal for the Federal Reserve Bank of New York to publish three new reference rates for use in U.S. dollar derivatives and financial contracts.
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.
The Alternative Reference Rate Committee on Thursday recommended a broad Treasuries repo financing rate as a preferred alternative to the London Interbank Offer Rate, or LIBOR.
The global Financial Stability Board — made up of the U.S. Treasury and its counterparts in other developed countries — published a progress report today on its efforts to reform interest rate benchmarks such as the London Interbank Offer Rate, or Libor.
Deutsche’s deferred prosecution agreement is the largest of the Libor-rigging settlements.