As if they didn’t have enough to deal with, banks are faced with a succession of serious challenges over the next two years as they face up to the reality of the end of Libor. Firstly, they must ...

May 11 (Reuters) - The Libor benchmark is unreliable and the market volatility seen at the start of the pandemic is evidence that funding markets based on the rate can crumble under stress, New York ...

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 ...

The Financial Stability Board has released a progress report to the G20 on LIBOR transition, encouraging financial authorities to set global consistent milestones that will accelerate moves away from ...

As if lenders didn’t have enough to deal with these days with the deluge of borrower requests for forbearance and payment relief, they continue to face a ticking clock on the transition away from ...

On Thursday, the risk-free rate working group at the Bank of England published its priorities for the transition away from Libor to Sterling’s risk-free replacement interest rate, Sonia. Making a firm ...

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 ...

During the London InterBank Offered Rate (LIBOR) transition, and post LIBOR’s end date of June 30, 2023, the goal for all should be that (1) the effective interest rates be generally economically ...

OLDWICK, N.J.--(BUSINESS WIRE)-- The transition from the long-standing London Interbank Offered Rate (LIBOR) reference rate, used to help set other interest rates, to the Secured Overnight Financing ...

COVID-19 and LIBOR transition plans, will there be delays? After an eventful Q4-2019 and early Q1-2020, the pace of the LIBOR transition is challenged by the recent market turmoil. The risk-reward ...