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, ...

RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover Financial Services (NYSE: DFS) and Discover Bank (collectively “Discover”) have certain outstanding preferred stock and debt securities, listed in this ...

RIVERWOODS, Ill.--(BUSINESS WIRE)-- Discover Financial Services (NYSE: DFS) and Discover Bank (collectively “Discover”) have certain outstanding preferred stock and debt securities, listed in this ...

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-on ...

Annex 1 lists the Legacy LIBOR Instruments that will transition to Term SOFR plus a tenor spread adjustment after the Cessation Date by operation of law, pursuant to the Adjustable Interest Rate ...

LSEG’s post-trade division, LCH SwapClear, successfully completed the second and the final conversion last week, following the first USD Libor conversion event last month. LCH SwapClear completed its ...

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 ...

17 global dealers transition their legacy LIBOR swaption inventory, multilaterally switching more than 17,000 trades NEW YORK--(BUSINESS WIRE)--Capitolis, the financial technology company, announced ...

BUFFALO, N.Y., June 14, 2023 /PRNewswire/ -- M&T Bank Corporation (MTB) (NYSE: MTB, M&T) announced today that CME Term SOFR will be the replacement reference rate for certain outstanding floating rate ...

NEW YORK, May 2 (Reuters) - A decade after a manipulation scandal turned global regulators and investors against the London Interbank Offered Rate (LIBOR) as the global interest rate benchmark, major ...

Discover the history, functionality, and transition of Euro LIBOR, the euro-denominated interbank rate, and its replacement in European financial markets.