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Leaving LIBOR, Say Hello to SOFR

Goodbye Libor hello SOFR? Goodbye Libor, hello SOFR?. the London Interbank Offered Rate that serves as a benchmark to price. There are contracts which specifically say Libor and they pre.

Leaving LIBOR, Say Hello to SOFR. An interesting article was posted on-line by the "Miami Herald" last Friday, March 30, 2018. It’s by Tom Hudson who hosts "The Sunshine Economy" on WLRN-FM; @HudsonsView. "If you have a home equity line of credit, private student loan, commercial mortgage or business loan, your payment may be tied.

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Leaving LIBOR, Say Hello to SOFR. Deep inside most variable interest rate loan documents is LIBOR. Since the 1980s, lenders have leaned on LIBOR as the gauge to set other market interest rates. As LIBOR moves, so moves repayment costs. But it is an imperfect reflection of the cost of cash.

You Say Goodbye (LIBOR), I Say Hello (SOFR) October 9, 2018. 8 | Cadwalader, Wickersham & taft llp panelists lary Stromfeld Partner, Financial Services Cadwalader, Wickersham & Taft LLP meredith coffey executive vice president of Research and Regulation

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Transitioning away from LIBOR is likely to be a complex, expensive, and multi-year process. An important step occurred on April 3rd, when the Federal Reserve Bank of New York began publishing the Secured Overnight Funding Rate (SOFR), a new benchmark rate aimed as a replacement for USD LIBOR.

While the "deadline" for LIBOR’s ultimate fate is a few years away, the recent events around SOFR and LIBOR’s current state make a concerted move towards SOFR more likely. Although ICE has made adjustments to the LIBOR-setting process in an effort to "redefine" it, confidence in the construct of the rate continues to wane.

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