AOL

What was the LIBOR rate, and what happened to it?

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 replaced ...
Investopedia

Term of the Week: LIBOR

The London Interbank Offered Rate, or LIBOR—one of the most widely-recognized interest rate benchmarks of the past 37 years—will officially be retired today. The London Interbank Offered Rate, or ...
Business Wire

U.S. Bancorp Announces Plan to Transition Outstanding U.S. Bancorp-Issued U.S. Dollar LIBOR-linked Securities to Term SOFR As Replacement Reference Rate after June 30, 2023

MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bancorp (NYSE: USB) announced today that, after June 30, 2023, 3-month CME Term SOFR, as administered by CME Group Benchmark Administration, Ltd. (or any successor ...
Business Wire

UBS Releases Statement Regarding Use of U.S. Dollar LIBOR Rate for Fifteen ETNs

NEW YORK--(BUSINESS WIRE)--The UK Financial Conduct Authority announced that the three-month USD LIBOR settings will either cease publication or no longer be representative after June 30, 2023. UBS AG ...
Benzinga.com

Understanding Secured Overnight Financing Rates

The secured overnight financing rate (SOFR) is an important benchmark rate that reflects the average interest rate banks pay to take out secured loans in U.S. dollars overnight. The loans are secured ...