CBiBank Successfully Implements TERM SOFR’s New Benchmark Interest Rate for USD Loans
Alternative Reference Rates Committee (ARRC), a financial industry group convened by the Federal Reserve and the New York Fed, recommended the use of the Secured Overnight Funding Rate (SOFR) instead of U.S. dollar LIBOR, and SOFR-based financial products began trading in financial markets in the second half of 2018. Since......