Fed open to more than one Libor replacement – Powell


The Federal Reserve is open to more than one alternative rate to replace the London Interbank Reference Rate beyond 2021, chair Jerome Powell told US lawmakers on February 12.

The Fed has committed to replacing Libor with the newly-created secured overnight financing rate (SOFR). But one lawmaker has raised concerns that the new rate is not a like-for-like switch because it lacks credit sensitivity. Powell acknowledged that some banks had similar concerns.

Powell said that while the transition

You are currently unable to copy this content. Please contact [email protected] to find out more.



Source link

Free Course

"Double Your Traffic in 30 days" + Secret Bonus

valued at $299

This amazing course will teach you, step by step, how to double if not triple your traffic over the next 30 days.

100% Privacy. We will never spam you!

Comments