ARRC Releases Recommendation for SOFR Term Rate Administrator

Weiner Brodsky Kider PC
Contact

Weiner Brodsky Kider PC

The Alternative Reference Rates Committee (ARRC) recently released that it plans to recommend CME Group as the administrator for a forward-looking Secured Overnight Financing Rate (SOFR) term rate.  The SOFR-based term rate will be recommended by ARRC once certain market indicators have been met.

CME Group was selected after an evaluation of the RFP responses based on the following four criteria: technical criteria, firm criteria, public policy criteria, and calculation methodology criteria.  The release announces that ARRC conclusively identified that these criteria were most effectively met by CME Group’s proposal.

For more information on the ARRC and on the LIBOR-SOFR transition, please see WBK’s prior articles available here, hereherehere, and here.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Weiner Brodsky Kider PC | Attorney Advertising

Written by:

Weiner Brodsky Kider PC
Contact
more
less

Weiner Brodsky Kider PC on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.