Central Banking

US’s first Libor-replacement term rate coming in 2020

federal-reserve-bank-new-york

The Federal Reserve Bank of New York will begin publishing a series of backward-looking secured overnight financing rates (SOFR) in the first half of 2020. Cash markets have been clamouring for a term rate to replace Libor as the benchmark for floating rate loans.

Lorie Logan, deputy manager of the System Open Market Account, discussed the effort at the last Federal Open Market Committee meeting, minutes published on February 20 revealed. Staff at the New York Fed have already started work on

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: