As expected, on July 28, 2021, the Alternative Reference Rates Committee (ARRC) formally recommended the CME’s SOFR Term Rate. The SOFR Term Rate is known in advance of the related interest period and provides an indicative,...more
This past Monday, July 26, marked passage of the most recent major milestone in the replacement of LIBOR as the benchmark USD interest rate. Following the recommendation of the CFTC’s Market Risk Advisory Committee (MRAC)...more
7/29/2021
/ Brokers ,
CFTC ,
Financial Conduct Authority (FCA) ,
Governor Cuomo ,
ICE Benchmark Administration (IBA) ,
Interest Rates ,
Lending ,
Libor ,
New Legislation ,
New York ,
Secured Overnight Funding Rate (SOFR) ,
UK