Issues with pricing legacy USD LIBOR swaptions first became prominent in 2020, when major clearinghouses transitioned from Fed Funds to SOFR discounting for USD swaps.

Any transition to a SOFR-based benchmark rate described above will only apply if Discover does not exercise its option to redeem the Subordinated Notes in August 2023.

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 ...

LCH SwapClear completed its final conversion from Libor to Sofr on 20 May in a significant milestone for the transition of the global interest rate benchmark. According to the business the conversion ...

Annex C provides details on such USD LIBOR-linked instruments that will transition, pursuant to the terms of such instruments, to 3-month Term SOFR following June 30, 2023.

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 ...

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 ...

OLNEY, Md., July 12, 2023 (GLOBE NEWSWIRE) -- Sandy Spring Bancorp, Inc. (Nasdaq – SASR) announced today that CME Term SOFR will be the replacement reference rate for certain fixed-to-floating ...

The Consumer Financial Protection Bureau (CFPB) on Friday issued an interim final rule amending the agency’s 2021 LIBOR transition rule. The new interim final rule contains updates to reflect the ...