Browsing: Reference rates


Fannie Mae and Freddie Mac today announced plans to transition legacy Libor loans and securities to the Secured Overnight Financing Rate, the Alternative Reference Rates Committee’s preferred Libor alternative.


The Federal Reserve today adopted a final rule that implements the Adjustable Interest Rate Act by identifying benchmark rates based on the Secured Overnight Financing Rate that will replace Libor in certain financial contracts after June 30, 2023.


ABA this week wrote to the Financial Accounting Standards Board in support of a deferral of the sunset date for the transition relief provided by FASB and the expansion of the definition of the Secured Overnight Financing Rate, or SOFR, to include term SOFR as eligible to be designated a benchmark index for hedge accounting purposes.

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