Tag : financial industry group

CBiBank Successfully Implements TERM SOFR's New Benchmark Interest Rate for USD Loans
Finance News

CBiBank Successfully Implements TERM SOFR’s New Benchmark Interest Rate for USD Loans

Fintech News Desk
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......
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