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 ...
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 ...
Amplify Samsung SOFR ETF is an exchange-traded fund that mirrors the SOFR rate mechanics. Click here to check out my analysis ...
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 ...
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 ...
Remember Libor? For decades, the London interbank offered rate was the benchmark for pricing a wide variety of loans, including adjustable-rate mortgages. But over recent years, it’s been completely ...
The secured overnight financing rate (SOFR) is an important benchmark rate that reflects the average interest rate banks pay to take out secured loans in U.S. dollars overnight. The loans are secured ...
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 London Interbank Offered Rate, or LIBOR—one of the most widely-recognized interest rate benchmarks of the past 37 years—will officially be retired today. The London Interbank Offered Rate, or ...
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