SOFR

Is the end of Libor a threat to financial stability?

10/27/19

Concerns over banks’ level of preparation have led to worries about disruptions in the lending market, and some financial institutions warn that a new interest rate benchmark could cause lenders to pull back on credit.

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Regional banks sound alarm over new interest rate benchmark

10/16/19

Executives sent a letter to the federal banking regulators last month expressing concern that an alternative to the London interbank offered rate could limit credit availability.

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Next step in Libra battle; bank stock rally fizzles

10/10/19

Facebook CEO to face a skeptical House panel on Oct. 23; bank stocks have given up last month’s gains as investors await earnings season.

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Red flags worrying lawmakers 11 years after financial crisis

09/25/19

Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.

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Experimenting with digital currencies; Questioning SOFR

09/24/19

Some countries are toying with digitizing their currencies; NY Fed chief defends SOFR despite recent concerns about repo market volatility.

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Fed’s hard sell on SOFR; Consumers dialed in on phone banking

08/12/19

A Fed-led working group may pressure Wall Street to adopt SOFR; challenger banks with smartphone-based accounts soar.

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Mnuchin adds to anti-Libra chorus; Fed’s Williams touts SOFR

07/16/19

The Treasury Secretary says Facebook’s cryptocurrency plan creates national security issues; the New York Fed chief tells financial firms to stop dragging their feet and move on from Libor.

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Trump warns on Libra; Lenders retreat on farm loans

07/12/19

President says Facebook could face “full banking regulation”; big banks’ farm loan portfolios have shrunk more than 17% since 2015

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Fed working group proposes SOFR-based mortgage by 2021

07/11/19

The Alternative Reference Rates Committee promotes the adoption of a new Secured Overnight Financing Rate index rate to replace Libor in pricing hybrid adjustable-rate mortgages within the next two years. The change would be the first application of SOFR to a consumer-loan product.

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Banks seen breezing through stress tests; Deutsche under investigation

06/20/19

Banks shouldn’t have trouble this year, but the rules may change next year; U.S. authorities are probing possible AML compliance violations at the German bank.

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