Goldman’s Granet: repo tumult does not undermine SOFR

Risk USA: Libor transition head says SOFR is more stable than the rate it is set to replace

New-SOFR-discount-rate

The head of Libor transition for Goldman Sachs has dismissed concerns about the stability of the secured overnight financing rate (SOFR) following the recent turmoil in repo rates.

Jason Granet, a member of the Alternative Reference Rate Committee (ARRC) charged with managing the move away from Libor, said SOFR was less volatile than the benchmark it is set to replace, even after accounting for the wild swing in repo rates on September 17.  

“What you see is this massive spike in rates, a

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