On Tuesday, April 3rd, the NY Fed began publishing SOFR – a possible replacement for LIBOR – to great interest (at the LSTA, at least). So, the results thus far? As the Fed data shows, SOFR came out of the box at 1.8% on Day One, climbed to 1.83% on Day Two, and then declined to 1.74% on Day Three.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.