LIBOR Task Force to Comment on FRB Proposal for New Reference Rates

SFIG's LIBOR Task Force will be commenting on the Federal Reserve Board's (FRB) proposal to produce three new reference rates based on overnight repurchase agreement transactions secured by Treasuries. The most comprehensive of the rates, the Secured Overnight Financing Rate (SOFR), was selected by the Alternative Reference Rates Committee as its recommended alternative to U.S. dollar LIBOR. Dentons US LLP will serve as drafting counsel, and the response is due on October 30th.

If you would like to join the Task Force, please contact Michael.Williams@sfindustry.org.

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