Libor’s sunset sees US repo market cast a longer shadow

Concern over structural deficiencies as SOFR chosen to replace key benchmark

Image of dollar

Like an occasionally off-key understudy for a big Broadway show, the US repo market is set to take Libor’s starring role in the financial markets while some fear it is not ready for the limelight.

The choice of the repo-backed Secured Overnight Financing Rate (SOFR) as Libor’s replacement was taken in June by an industry working group, following a turbulent 12 months for the market: interbank trading between JP Morgan and BNY Mellon broke down, and there were repeated dislocations at quarter

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: