The world’s largest fund managers have aired concerns about the current timeline for switching from the discredited interest rate benchmark Libor, to a new near risk-free rate.
Pimco, the second-biggest US fixed income manager, urged regulators to publish the recently announced Secured Overnight Financing Rate (SOFR) as soon as possible to kick-start the process. BlackRock, the largest money manager in the world, says the pace of the transition to the new benchmark will be dictated by liquidity
- Asia moves: Natixis sales head moves to Barclays, new banking head for StanChart Singapore, and more
- Functional programming reaches for stardom in finance
- Banks hope final FRTB rules will ease NMRF burden
- Banks use machine learning to ‘augment’ corporate sales
- Buy-siders eye ways to get ahead of US resolution stay rules