News & Analysis as of

Federal Reserve Repurchases Secured Overnight Funding Rate (SOFR)

Spilman Thomas & Battle, PLLC

Federal Reserve Board Publishes SOFR as a Replacement for LIBOR

The Federal Reserve Board ("FRB") began publishing the Secured Overnight Financing Rate ("SOFR") in April. This rate was developed to be a more reliable benchmark than LIBOR, which lost credibility a few years ago when it was...more

Skadden, Arps, Slate, Meagher & Flom LLP

Federal Reserve Gears Up to Publish LIBOR Alternative

On April 3, 2018, the Federal Reserve Bank of New York (FRBNY) will begin publishing three reference rates based on overnight repurchase agreement (repo) transactions collateralized by U.S. Treasury securities: the Secured...more

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