A final rule from December identifying benchmark rates based on the Secured Overnight Financing Rate (SOFR) that will replace LIBOR (formerly known as the London Interbank Offered Rate) in certain financial contracts after June 30, […]
The expiration date for guidance on dealing with the demise of a now-defunct reference rate has been extended, to Dec. 31, 2024, by the accounting profession, according to a statement issued Wednesday. The Financial Accounting […]
Identifying benchmark rates based on the Secured Overnight Financing Rate (SOFR) that will replace LIBOR (formerly known as the London Interbank Offered Rate) in certain financial contracts after June 30, 2023 is the aim of […]
Progress in the transition away from a now-defunct reference rate is “encouraging,” but “timely action” is still needed by banks before use of the rate is cut off completely by next summer, a Federal Reserve-sponsored […]
Steps underway now and plans going forward to move to new rates or to update fallback language in a reference rate that goes out of existence next summer are the subject of a survey being […]
Default rules for certain contracts that use a soon-to-be defunct interest rate reference rate would be provided under a proposal released Tuesday by the Federal Reserve. The agency said its proposal on the London Interbank […]
Supporting the transition of legacy cash products using a defunct reference rate is the aim of a new guide released Monday by the group that developed and implemented an alternative to the obsolete rate. According […]
Recommendations for contracts linked to a now-defunct reference rate – and which will no longer be of use after June 2023 – were issued Wednesday by a Federal Reserve-sponsored group that developed an alternative rate. […]
The announcement of an initiative to increase secured overnight financing rate (SOFR) options trading based on a “deep and liquid marketplace” by a derivatives exchange was applauded Thursday by the Federal Reserve group that established […]
The time period preparers may utilize reference rate reform relief guidance and expand the Secured Overnight Financing Rate (SOFR)-based interest rates available as benchmark interest rates was proposed Wednesday by the financial accounting standards group, […]
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