The New York Fed and the Federal Reserve Board of Governors selected SOFR as the replacement for Libor in 2017. Libor had been a widely used benchmark rate for decades, but it depended on banks ...

It was fully phased out on June 30, 2023. It was replaced by the Secured Overnight Financing Rate (SOFR). The LIBOR scandal refers to a major episode of financial collusion in which one of the ...

Primary bond markets have proved a testing ground for the transition from inter-bank offered rates to new alternative risk-free rates. But the abundance of issuance referenced to Sonia and SOFR should ...

Trading volumes have risen sharply in derivatives tied to the secured overnight financing rate following the start of a regulatory push in late July to accelerate the move away from US dollar Libor.

SLMBP's features include its perpetual nature, floating rate structure (SOFR + 170 bps + Libor adjustment), non-cumulative dividends, and unusual $100 par value. The current yield is a key driver ...