New York Fed launches rates replacing US Libor

The Federal Reserve Bank of New York

The Federal Reserve Bank of New York on April 2 published three benchmark rates that are due to replace US dollar Libor as overnight interbank lending references.

The new rates are the Secured Overnight Financing Rate, the Broad General Collateral Rate and the Tri-Party General Collateral Rate.

In June 2017, the Alternative Reference Rates Committee recommended SOFR as an alternative to the US dollar Libor to settle derivatives and other financial contracts.

After conducting a roundtable

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