NY Fed now publishing LIBOR alternative index rate

Creditors currently using the London Inter-Bank Offered Rate (LIBOR) as the index for variable-rate consumer loans should note that the Federal Reserve Bank of New York is now publishing a new index named the Secured Overnight Financing Rate (SOFR). SOFR is intended to take the place of LIBOR when LIBOR is discontinued (as the United... Continue Reading…...(read more)

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