ARRC: No Guarantee on Forward-Looking SOFR Term Rate in 2021
The Alternative Reference Rates Committee today said it “will not be in a position” to recommend a forward-looking term rate using the Secured Overnight Financing Rate by mid-2021.
The Alternative Reference Rates Committee today said it “will not be in a position” to recommend a forward-looking term rate using the Secured Overnight Financing Rate by mid-2021.
The volume of financial instruments that reference USD Libor has grown to $223 trillion, up from $199 trillion in 2016, according to the Alternative Reference Rates Committee.
Intercontinental Exchange, which administers the London Interbank Offered Rate, today finalized plans to cease publishing U.S. dollar Libor after the end of 2021.
As banks prepare for the eventual cessation of the London Interbank Offered Rate, the OCC today released a self-assessment tool for banks to evaluate their preparedness for transitioning away from Libor to an alternate reference rate, such as the Secured Overnight Financing Rate.
The Alternative Reference Rates Committee today issued recommendations for intercompany loans based on the Secured Overnight Financing Rate, the ARRC’s preferred replacement for the London Interbank Offered Rate.
A portfolio of benchmarks is emerging to meet bankers’ diverse rate needs as Libor recedes in history’s rearview mirror.
n a Bloomberg op-ed today, Tom Wipf, chairman of the Alternative Reference Rates Committee, emphasized the need for public and private sector participants to work together in preparation for the cessation of the London Interbank Offered Rate.
The administrator of the London Interbank Offered Rate has made what was expected official: the widely used benchmark will cease publication, with certain Libor tenors ceasing as soon as the end of 2021.
Intercontinental Exchange, which administers the London Interbank Offered Rate, today proposed a plan to cease publishing U.S. dollar Libor after the end of 2021.
With the COVID-19 pandemic highlighting the “fundamental weakness” in the London Interbank Offered Rate, financial…