In response to the “Request for Information Relating to the Production of Rates”, the LSTA submitted a letter to the Federal Reserve discussing the impact of a transition from LIBOR to SOFR (or another reference rate) on the U.S. syndicated loan market. The letter discusses key stakeholders in the syndicated loan market and why they care about the transition from LIBOR to a new reference rate. In addition, the letter addressed Question 3 “Are there any changes to one or more of these rates that would make them more useful? For what purposes?”