Browsing: Libor

Economy

The Alternative Reference Rates Committee today issued a set of guiding principles for the development of fallback language for new financial contracts for loans, securitizations and floating rate notes to ensure that these contracts will continue to be effective in the event that U.S. dollar Libor ceases to be published.

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.

1 6 7 8 9