Good question! To provide the answer, we’ll need to travel overseas to check out the international money markets. Before discussing LIBOR, you should know about Eurodollars. A good place to start is ...
From here on out, your consumer or business loan rate will be set by a new standard. Replacing Libor, the obsolete benchmark for loan rates, is SOFR, the Secured Overnight Financing Rate. Its full-on ...
With the clock ticking on LIBOR, the market begins the adjustment to SOFR In the past few years, the London interbank offered rate (LIBOR) has faced well-publicized challenges. LIBOR was intended to ...
LIBOR set interest rates for trillions of dollars in loans for over 30 years. Banks manipulated the rate because it relied on estimates rather than real transactions. A new system called SOFR replaced ...
WASHINGTON — Breaking up is hard to do. Breaking up with an interest rate that is baked into millions of contracts worth trillions of dollars is even harder, but 2022 was the year the financial system ...
About the authors: J. Christopher Giancarlo served as chairman of the U.S. Commodity Futures Trading Commission. He was previously an independent director of the American Financial Exchange, the ...
Companies that have yet to switch over from the London interbank offered rate before a June phaseout deadline may have ways to hang on to the borrowing benchmark—at least temporarily. Libor, which ...
The 21st has been a banner century for financial and accounting scandals. Enron, the dotcom bust, the subprime-mortgage crisis and the bank bailouts have all contributed to the very low esteem in ...
Rachel Witkowski is an award-winning journalist whose 20-year career spans a wide range of topics in finance, government regulation and congressional reporting. Ms. Witkowski has spent the last decade ...
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