Nasdaq

Goodbye, Libor; Hello, SOFR. What Does The New Interest Rate Benchmark Mean For You?

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 ...
AOL

What was the LIBOR rate, and what happened to it?

LIBOR once served as the foundation of global lending, affecting everything from credit cards to corporate loans. For over 30 years, these benchmark interest rates determined borrowing costs for ...
Barron's

Libor Is Over. We Still Need More Benchmarks to Replace It.

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 ...
Seeking Alpha

Wells Fargo provides details about its LIBOR-to-SOFR transition

Wells Fargo (NYSE:WFC) on Friday provided information for the transition of its outstanding U.S. dollar instruments based on LIBOR (London Interbank Offer Rate). After June 30, the lender said, ...
Nasdaq

Discover Financial Services Announces Transition of USD LIBOR-based Securities to Term SOFR and SOFR Spread-adjusted Swap Rates

RIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover Financial Services (NYSE: DFS) and Discover Bank (collectively “Discover”) have certain outstanding preferred stock and debt securities, listed in this ...
Business Wire

U.S. Bancorp Announces Plan to Transition Outstanding U.S. Bancorp-Issued U.S. Dollar LIBOR-linked Securities to Term SOFR As Replacement Reference Rate after June 30, 2023

MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bancorp (NYSE: USB) announced today that, after June 30, 2023, 3-month CME Term SOFR, as administered by CME Group Benchmark Administration, Ltd. (or any successor ...
Seeking Alpha

First Horizon Announces CME Term SOFR as Benchmark Replacement Rate for Certain Outstanding USD LIBOR Securities After June 30, 2023

MEMPHIS, Tenn., April 25, 2023 /PRNewswire/ -- First Horizon Corporation (FHN) (NYSE: FHN or "First Horizon") today announced that, after June 30, 2023, US dollar LIBOR will be replaced with CME Term ...
The TRADE

LCH SwapClear completes Libor to Sofr transition

LSEG’s post-trade division, LCH SwapClear, successfully completed the second and the final conversion last week, following the first USD Libor conversion event last month. LCH SwapClear completed its ...