Tag Archives: reference rates

Fed Gov. Quarles: Efforts to Implement SOFR Ahead of Schedule

In just three months since the secured overnight financing rate was published, the number of transactions underlying SOFR on a daily basis has already surpassed the amount of those underlying Libor, Federal Reserve Vice Chairman for Supervision Randal Quarles said during taped remarks at a public roundtable hosted by the Alternative Reference Rates Committee today.

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From Libor to SOFR

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?

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