IRS Proposed Rule Would Help Ease Transition Away from Libor
The IRS today proposed regulations intended to help market participants transition from the London Interbank Offered Rate to an alternative reference rate.
Browsing: Reference rates
Survey Finds Cost of Funds Top of Mind for Community Bankers
Heated competition for bank funding is an increasingly important focus for community bank leaders, according to an annual survey released today by the Federal Reserve, the FDIC and the Conference of State Bank Supervisors.
FHFA Directs FHLBs to End Dependence on Libor
With the future of the London Interbank Offered Rate uncertain beyond 2021, the Federal Housing Finance Agency today directed the Federal Home Loan Banks to begin planning to phase out Libor-based transactions.
N.Y. Fed Chief: Don’t Wait for Term SOFR to Begin Rate Transition
Market participants should not wait for term versions of the Secured Overnight Financing Rate to begin adopting it in contracts, Federal Reserve Bank of New York President John Williams said at an event today.
ARRC Publishes Checklist for Institutions Transitioning from Libor to SOFR
The Alternative Reference Rates Committee today issued an implementation checklist to help institutions working to transition away from the London Interbank Offered Rate to the Secured Overnight Financing Rate, the ARRC’s recommended replacement for Libor.
FASB Proposes Guidance to Ease Libor Transition
As banks work to reduce their dependence on the London Interbank Offered Rate, the Financial Accounting Standards Board yesterday proposed guidance that would help ease the potential effects of reference rate reform on financial reporting.
SEC Urges Market Participants to Prepare for Libor Transition
The Securities and Exchange Commission late Friday issued a statement warning of the potential consequences for financial markets if the London Interbank Offered Rate, or Libor, is discontinued.
ARRC Releases White Paper on Using SOFR Average for ARM Products
The Alternative Reference Rates Committee yesterday released a white paper that shows how to use an average of the Secured Overnight Financing Rate to structure adjustable-rate mortgages in a way that’s comparable to current ARM loans.
Powell: Trade Uncertainties, Slowing Global Growth Putting Pressure on U.S. Economy
Testifying before the House Financial Services Committee today, Federal Reserve Chairman Jerome Powell said he and his colleagues “don’t expect a severe downturn” in the near future, but warned that a “cross-current” of trade uncertainties and slowing global growth could require a more accommodative monetary policy stance.
ARRC Issues Recommendations on Risk-Free Rates in Cross-Currency Swaps
The Alternative Reference Rates Committee today released a document offering preliminary considerations for the use of risk-free rates in interdealer cross-currency swaps.