Pimco calls for urgency on Libor transition

Bond giant wants SOFR rate published “sooner rather than later”; BlackRock raises questions over liquidity

Image of hourglass

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

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net 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: