Browsing: Swaps

Commercial Lending

Today marked the start of the first phase of the Commodity Futures Trading Commission’s “SOFR First” initiative, which it recommended for switching trading conventions from Libor to the Secured Overnight Financing Rate, the Alternative Reference Rates Committee’s preferred Libor alternative, and by some measures, SOFR swaps accounted for 50% of total activity.


In a joint statement today, the Commodities Futures Trading Commission’s Market Participants Division and Division of Market Oversight emphasized to market participants and swap execution facilities the importance of an orderly transition away from Libor.

Compliance and Risk

The Federal Reserve today finalized new categories of entities under the “financial institution” status under the FDIC Improvement Act’s netting provisions, first promulgated in Regulation EE in 1994.

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